- Fintechs is leveraging Rentpay as feature and the segment is literally booming in both TopLine & BottomLine. Basically Cashing out Credit.
Example - Cheq, Cred, Housing, RentGiraffe, BharatNxt(business payments), Freecharge, nobroker etc.,
- Heard that the Revenues through likes of Rent-pay as a feature in Fintechs is Contributing around 10-40%+
- This is a Grey space. This vertical is turning as positive contribution to the bottom line.
- To put things in perspective - Cheq does XXX crores(triple digit) volumes in Rent payments monthly through CC.
- Many making around ~30-40 Basis points post all the processing costs.
- Also, Some Credit cards underwriters (example - RBL) have started charging additionally 1% surcharge in the Monthly Bill Statement.
- Most of Credit Card issuers removed reward points in this kind of cashing out payments.
- Below picture show how this segment of Grey Space is booming on the streets. This picture is taken in Koramanagala
Any Thoughts ?!