Paytm Payments Bank Offering RuPay Digital Debit Card – Some Comparisons

The digital debit card will be usable across all major platforms


Paytm Payments Bank

The newly launched Paytm Payments Bank (PPB) has recently partnered with National Payments Corporation of India (NPCI) to launch their very own RuPay powered Paytm Digital Debit Card. Now, with the Paytm Payments Bank (PPB) Digital Debit Card, users will be able to make transactions at all merchants and PoS (Point of Sale) wherever cards are accepted.

The digital debit card will be powered by RuPay. Paytm Payments Bank (PPB) will issue their digital debit card to all PPB customers. To get a PPB digital debit card, one needs to open a bank account with Paytm Payments Bank (PPB).


How To Get ‘Paytm Digital Debit Card’?

All the existing Paytm Wallet users need to complete their KYC process to get their respective bank accounts with Paytm Payments Bank. Once an user becomes an account holder, they will get a free digital RuPay powered Paytm Digital Debit card. This Paytm debit card will come with a free insurance cover of up to Rs. 2 lakh (in case of death or permanent total disability).

Transactions Across All Online Platforms

All Paytm Payments Bank customers will be able to make payments across all platforms. The RuPay powered Paytm digital debit card can be used at across all online platforms as well as at merchants and PoS (Point of Sale) wherever cards are accepted. Users can experience the same convenience, which they had with Paytm Wallet and ecosystem.

Can Make Payment At Flipkart, Amazon and OLA

OLA, Flipkart and Amazon currently do not accept payment from Paytm directly. But with the PPB debit card, users can make payments on some of the major online platforms like Flipkart, Amazon and OLA. The digital debit card is accepted across all platforms.

Additional Financial Services

Paytm Payments Bank (PPB) is also looking forward to partner with some of the full service banks to start their additional services for PPB customers. They will soon roll out a full bouquet of other financial services which include term deposits, retailing and SME loans. At the Paytm Payments Bank, one can can only make a deposit of up to Rs. 1 lakh and cannot undertake any lending activity.

Which Is The Best Payments Bank In India Now?

With Paytm Payments Bank (PPB) being the latest entrant in the sector, it competes directly against Digibank, a digital banking service with more services and benefits, Airtel Payments Bank and India Post Payments Bank.

Paytm Payments Bank Digibank Airtel Payments Bank India Post Payments Bank
Minimum Balance Zero Zero Zero Zero
Maintenance Charges Zero Zero Zero Zero
Maximum Deposit Rs. 1 Lakh Rs. 1 Crore Rs. 1 Lakh Rs. 1 Lakh
Physical Debit Card No Yes No Yes
Digital Debit Card Yes No Yes No
Rate of Interest 4% 7% 7.25% 4.5% on deposits up to Rs. 25,000/-

5% on deposits from Rs. 25,000/- to Rs. 50,000/-

5.5% on deposits from Rs. 50,000/- to Rs. 1,00,000/-

Transaction Charges Zero Zero 0.5% of the transferred amount. Capped at Rs. 50/- Rs. 2.5/- per transaction up to Rs. 10,000/-

Rs. 5/- per transaction from Rs. 10,001/- up to Rs. 1,00,000/-

ATM Withdrawal Charges Rs. 20/- per withdrawal and Rs. 5/- for each mini statement will be charged after free limit ends Unlimited Free Withdrawals 0.65% on Cash Withdrawals Rs. 20/- per transaction after free limit ends

It remains to be seen how many people take advantage of this RuPay powered digital debit card.

  1. Phani says

    How does a DIGITAL DEBIT card Work… Technologically to:
    1. With draw cash from any ATM ? – It cannot be inserted into an ATM for Reading.
    2. On a PoS or Micro ATM ?- It cannot be Swiped.
    3. Make payments online ?

  2. Deepak Rajput says

    Is Paytm rupay card is like a visa card of bank if yes then how can I get this card because the card is being shown in my paytm account

    1. Shaheer says

      They have not started printing physical cards, it will get started soon.

  3. Rahul says

    I don’t like paytm anymorei know this was really an awesome platform in past but its the wrost wallet wlever I can’t even use its features so now I have been uninstalled it and now I am freecharge pretty awesome

  4. Arun says

    Digibank is the winner obviously here and they do provide virtual card also. Unlike other stupid banks they are not robbing customers with unusual charges. All they are expecting is deposits from customers which is enough to do business. Other worthless banks must learn at least few things from this bank. I have closed my 8 bank accounts now i am using my salary account and Digi that’t it(shifting my salary every month to this account). No tension of stupid charges from those moron banks who wants to rob savings customers to cover there NPAs. Kudos to Digi bank. Thanks a lot.

  5. Vishal says

    Virtual debit card comes with Digibank e-wallet. This is digiSavings (which comes with the banking services at par with other Payments Banks). It provides a physical debit card only.

  6. Naman Dwivedi says

    And when you are saying that paytm does not provide physical debit card then how you explained that they charge 20 for atm withdrawls..??

  7. Naman Dwivedi says

    Digibank does provide both digital and plastic debit card, please correct the information

    1. Shanmugam says

      Can you explain me about digibank?

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