Paytm’s aim is to issue two million credit cards in the next 12-18 months. … app store arena, today announced that it is launching its own credit cards “to … Paytm has today announced the launch of its new credit cards known as Paytm Card in India. Payment solution provider Paytm has launched a new product for the Indian financial market. The company has launched its new credit cards in association with various card issuers. The company has announced that it plans to issue nearly 2 million co-branded cards in the next 12. Here’s what you need to know about the Paytm Card.
The company also mentioned that the Paytm credit cards will offer insurance protection against fraudulent transactions to protect user’s money. This service will also come with a personalized spend analyzer helping in assessing expenses and planning future spends smartly.
Paytm also revealed that it has digitized the entire credit card experience on the Paytm app – from the application process to tracking and issuance of the credit card. It offers the flexibility of choosing a convenient time on the app itself for the collection of documents along with online tracking of card issuance and delivery.
Paytm Credit cards will have a transparent & compelling rewards program with assured cashback on every transaction. The accrued rewards point will have no expiry and users will also be able to utilize those for various payments in the Paytm ecosystem. Since the cashback will be received directly in the form of Paytm Gift Vouchers, they can be spent anywhere. It will also give great lifestyle benefits for the users in the form of discount vouchers & complimentary memberships across travel, entertainment, food, and many such categories.
Paytm has revealed that it will partner with various card issuers to introduce co-branded cards. With the Paytm Card, the brand is aiming to issue two million cards in the next 12-18 months.
Bhavesh Gupta, CEO – Paytm Lending said, “In our country, credit cards are still considered a product for the affluent sections of the society and not everyone can avail of its benefits. At Paytm, our aim is to provide credit cards that benefit India’s aspiring youth and evolved professionals. These cards are designed to help them lead a healthier financial life through managing and analyzing the spending to make well-informed decisions. This can transform the credit market by bringing ‘new to credit’ users into the formal economy.”
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