Paytm will release 2 million new cards in the next 12-18 months.
E-commerce payment system and financial technology Indian company Paytm announced on Monday the introduction of co-branded paytm credit card in partnership with leading banks.
The company plans to issue two million cards in the next 12-18 months.
Paytm announced that these new credit cards, equipped with various security and full control features, will introduce “new to credit” users of the formal economy.
Paytm Credit Cards for Every customer
According to Bhavesh Gupta, CEO of Paytm ,
“In our country, credit cards are still considered a product for the wealthy, and not everyone can take advantage of it.
At Paytm, our goal is to provide credit cards that benefit India’s aspiring youth and advanced professionals. These charts are designed to help them lead a healthier financial life by managing and analyzing spending to make informed decisions. ”
India’s current credit card coverage is only 3%, compared to markets like the United States, where the figure reaches 320%.
By bringing its credit cards to life, Paytm is committed to ensuring that young professionals and college students benefit from their expertise by expanding the spectrum of Indian card users.
Next generation’ credit cards : Paytm credit card
Paytm has announced the launch of its “next generation” credit card .
“Paytm credit card will provide fraudulent transaction insurance to protect users’ money. This service will also include a personalized expense analyzer to help you effectively estimate costs and plan for future spending. ”
This will provide complete control to cardholders, allowing them to manage their transactions in real time.
Users can also disable their cards for contactless payments or international transactions when not required to avoid fraudulent activity.
Users can also instantly change their security PIN, update their address, apply for a duplicate card, and view their outstanding credit limit.
Better Paytm Support and Rewards
Paytm also stated that in addition to providing all the help and support to credit card users, everything can be managed from the app. You won’t have the hassle of visiting a branch or calling support.
“Paytm credit cards will have a transparent and attractive reward program with guaranteed cashback on every transaction.
The accumulated bonus points will not expire and users will also be able to use them for various payments in the Paytm ecosystem. Since cashback will be received directly in the form of Paytm gift certificates, they can be spent anywhere.
It will also give users great benefits in the form of discount coupons and free memberships in travel, entertainment, food and many other categories, ”Paytm was quoted as saying.