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This article explains new rules from the Reserve Bank of India that impact rent payments through mobile apps.

Recently, the Reserve Bank of India (RBI) announced new rules that affect how people can pay rent using mobile apps like PhonePe, Paytm, and CRED. Starting now, these apps will no longer allow rent payments with credit cards.

The RBI has issued a circular stating that payment platforms can only process transactions for registered merchants with complete KYC. Since most landlords are not registered merchants, tenants cannot send rent money through these apps anymore.

This change means that tenants will need to find other ways to pay their rent. They can no longer use credit cards on these fintech apps, which means they will miss out on rewards like cashback and in

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