Paytm Offers 45 Lakh Physical Debit Cards Powered By Visa; 50 Lakh Merchants Will Accept Them
Paytm Payments Bank will launch physical debit cards issued by Visa. Visa physical debit cards, according to Paytm, would allow customers to tap and pay for contactless transactions at more than 50 lakh Visa acceptance locations.
Customers can currently choose between actual Rupay debit cards and virtual Visa debit cards.
Paytm Payments Bank has already issued over 45 lakh virtual debit cards.
RuPay Debit Cards
It now plans to issue more than 10 lakh actual debit cards before the end of the fiscal year.
Paytm is one of the country’s largest issuers of RuPay Debit Cards, which can be used by customers at all the major online merchants which accept Rupay cards.
Payments Bank enabled Aadhar authentication for banking services last year by integrating the Aadhaar enabled Payment System (AePS).
Customers may now receive the benefits of over 400 government subsidies directly into their Paytm Payments Bank Savings Account, thanks to the Direct Benefits Transfer (DBT) function.
Paytm recorded over 97.5 crore digital transactions in March 2021, with Paytm Wallet, Paytm FASTag, Paytm UPI, and online banking transactions leading the way.
How To Apply For Physical Debit Cards By Visa?
Through the Paytm Payments Bank section on the Paytm app, customers can apply for a physical card.
They can set the PIN once they receive the card. This debit card will let customers avail Visa offers, along with features such as international payments and ‘tap-and-pay transactions.
“Physical cards will help more people have another payment method to rely on whenever they are out buying services or shopping. This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions,” Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd, said.