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Financial services company Paytm has said that it has partnered with SBI Card to launch Paytm SBI Card on RuPay network. Let us tell you that the partnership between Paytm and SBI Card that started in 2020 is now expanding with National Payments Corporation of India’s RuPay. Speaking to the media, Vijay Shekhar Sharma, Founder and CEO of Paytm, said that India is on the cusp of the next payments revolution, where credit will become the main payment option.
Mobile phone transactions will pick up
Paytm Founder and CEO Vijay Shekhar said that the Paytm RuPay Credit Card along with the SBI card will be a great option for customers. Our users are already familiar with QR code-based payments. This will further promote transactions through mobile phones having RuPay credit cards working on UPI QR codes.
GET HUGE CASHBACK
Any type of cardholder can get 2 percent cashback on Paytm ecosystem spends. He said that 1 percent cashback will be available on all purchases other than wallet reload and fuel expenses. Whereas, in case of Platinum card holders, 1 percent fuel surcharge waiver and Rs. 1,00,000 will also have the added benefit of cyber fraud insurance coverage.
You will get thousands of benefits as a welcome gift
The company has given Rs. Paytm First Membership with exclusive benefits up to Rs.75,000. This also includes OTT platform membership and flight ticket discounts through the Paytm app. Cardholders will get 3 percent cashback on the Paytm SBI Card when booking movie and travel tickets on the Paytm app. Plus, 2 percent cashback on all other purchases on the Paytm app and 1 percent cashback on spending elsewhere.
credit will emerge as the solution
Ram Mohan Rao Amara, MD & CEO, SBI Card said, “We have partnered with Paytm to launch this card with an aim to make credit cards more accessible to the young and digitally evolved consumers. He added that with the wide reach of RuPay across India and acceptance of RuPay Credit Card on UPI, customers can avail this card to get maximum value out of their spends.
NPCI COO Praveen Rai said that this card will emerge as a leading credit solution for consumers. Since the launch of credit card services on UPI by NPCI, we have been working relentlessly to provide unique, value-driven RuPay Credit Card.
