rxvtimg.C error: ‘PictOpDifference’ was not declared in this scope

If you experience the issue with following error:

rxvtimg.C: error: ‘PictOpDifference’ was not declared in this scope

you can overcome it by commenting out following part in config.h

/* Define to enable xrender support */
/* #undef XRENDER */

Update:

Optionally, you can disable transparency by setting following settings in config.h

/* Define if you want your background to use the parent window background */
#undef ENABLE_TRANSPARENCY