RentenPe, a Data & FinTech company from Mumbai, has unveiled the Residence Card, India’s first digital technology asset for the residential rental market. This digital card will provide a verified identity to the renters and homeowners while also streamlining the entire rental process.

Sarika Shetty, Co- founder of RentenPe, stated, “With the Residence Card, we are introducing India’s first digital rental identity. Unlike any other payment card, this digital Residence Card will work as a rental ID for both tenants and landlords, functioning as a rental passport. We came up with the idea of the Residence Card to streamline the traditional rental process. It will also provide financial leverage from rent payments. Years of consistent rent payments can now help contribute to broader financial goals, such as homeownership or building credibility, while having long-term positive impact on economic health.”

On the homepage of the RentenPe app, you’ll see your Residence Card. If you’re a tenant, you have to upload your valid rent agreement when you onboard on the app. The front of the card displays your profile picture, You will get a blue tick once your uploaded rent agreement is verified. On the right side you will see your current Rent Credit Score. At the back of the Residence Card, “Pay Rent” button allows you to make rent payments directly to your landlord using various payment methods such as UPI, net banking, credit card, debit card etc. Plus, for every consistent rent payment you have chances to win rewards. At the bottom of the card, you will also find your current rental address for easy reference. A Wallet button where all your rewarded coins are stored, ready to be redeemed while paying rent. A Locker lets you save your rent receipts, rent related and other important documents, The transactions button helps you track all your rental payments, while the History section provides easy access to your complete rental history.

Along with the digital Residence Card, RentenPe also introduced India’s first ever Rent Credit Score. a pioneering metric tailored specifically for the residential rental market. Tenants can create a verified tenant profile and start building a unique Rent Credit Score, which will aid them in the future for their consistent rent payments. With this digital Residence Card tenants can have access to better rental deals, quicker approval process and potential rent discounts.

Just like tenants, landlords will also have their own Residence Card. With this digital Residence Card, landlords can have instant access to verified tenant profiles who are onboarded through the RentenPe app. They also can apply for an early rent loan, allowing them to receive their rent in advance when needed, making financial management much easier, along with many other benefits.