Housing.com partners with Niro, launches Rent Now, Pay Later services

New Delhi, March 1, 2023: Housing.com announced the launch of Rent Now Pay Later (RNPL) service in partnership with Bengaluru-based embedded finance start-up, Niro. A press release issued by the company says that, this innovative credit solution offers customers the ability to pay their rent on credit. Now, rent can be paid on Housing.com by users with a zero-convenience fee, a interest-free credit period of up to 40 days, as well as an option to convert rent payments into easy monthly instalments (EMIs).

Housing has earlier provided users with the ability to pay rent using credit cards.  The RNPL service further provides users with the option to upgrade their credit limit to be able to draw down cash for a variety of use cases, taking  advantage of instant, low-interest rate loans.

Dhruv Agarwala, Group CEO, Housing.com, PropTiger.com & Makaan.com, expressed his optimism regarding the future of digital payments in India, stating, “India has become a trailblazer in the world of digital payments and we anticipate that services like Rent Now Pay Later (RNPL) will only continue to gain traction. This solution will bring genuine empowerment to millions of customers who desire to rent properties using credit but are often hindered by the lack of traditional instruments.”

Commenting on the launch, Aditya Kumar, Co-founder & CEO, Niro said “We are excited about our collaboration with Housing.com to enable India’s first ‘Rent Now, Pay Later’ product for Housing’s customers. At Niro, we are constantly striving to create innovative credit solutions for consumer internet platforms. Through our joint efforts, we have been able to truly revolutionise the way people think about rental payments in India. Housing.com and Niro are both well-positioned to tap into the potential of this growing market and make a meaningful mark in the industry.”

Sangeet Aggarwal – Head of Product & Design, Housing.com, said, “Housing.com is truly leading the way by embracing the BNPL model in the real estate sector. Our collaboration with Niro will be instrumental in driving this highly-promising innovation to our user base.”