PhonePe, CRED revive credit card rent payments under marketplace model; rollout eyed next month
After RBI flagged P2P concerns last year, PhonePe and CRED are piloting a KYC-compliant marketplace for credit card rent payments at ~1% fee. NoBroker, PayZapp and RedGiraffe have already restarted. Higher TDS thresholds (₹6 lakh annual, ₹50,000 monthly) ease friction for tenants.
What happened
PhonePe and CRED are piloting a revival of credit card rent payments under a marketplace model with KYC compliance, after RBI flagged P2P concerns last year.
Key facts
- 1% fee
- TDS limit raised from ₹2.40 lakh to ₹6 lakh
- monthly TDS threshold ₹20,000 to ₹50,000
Why this matters
With NoBroker, PayZapp and RedGiraffe already live, the competitive window is narrowing fast—evaluate partnership or acquisition of niche rent-tech rails before PhonePe's distribution locks in category leadership.