Paytm Payments Bank will launch physical debit cards issued by Visa. Currently, it presents physical debit cards by Rupay, and virtual debit cards by Visa to prospects. Paytm mentioned that Visa physical debit cards will permit prospects to use these at more than 50 lakh Visa acceptance points and will permit them to tap and spend for contactless transactions. Paytm Payments Bank has currently issued more than 45 lakh virtual debit cards. It has now set a target to situation more than 10 lakh physical debit cards by the finish of this fiscal. Paytm is amongst biggest issuer of RuPay Debit Cards in the nation, which can be applied by prospects at all the big on the internet merchants which accept Rupay cards
How to apply for physical debit cards by Visa?
Through the Paytm Payments Bank section on the Paytm app, prospects can apply for a physical card. They can set the PIN after they get the card. This debit card will let prospects avail Visa presents, along with features such as international payments and ‘tap-and-pay’ transactions. According to the company’s management, this is one more step to democratise the digital economic ecosystem in the nation. “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, mentioned.
Paytm IPO on cards
Paytm is arranging to come out with an initial public present worth $3 billion later this year, PTI reported citing sources as saying. Upon thriving launch of IPO, Paytm would be the biggest such present. Coal India’s Rs 15,200 crore-IPO launched in 2010 is the country’s biggest public situation till date. The SoftBank and Alibaba-backed organization is seeking at raising about $3 billion (more than Rs 21,700 crore) at a valuation of properly more than $25 billion, the sources privy to the development mentioned.
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Paytm registers 97.5 crore digital transactions in Mar’21
Last year, Payments Bank had enabled banking services by way of Aadhar authentication by integrating the Aadhaar enabled Payment System (AePS). It also launched the Direct Benefits Transfer (DBT) facility, enabling prospects to get the rewards of more than 400 government subsidies straight into their Paytm Payments Bank Savings Account. Paytm registered more than 97.5 crore digital transactions in March 2021, led by the transactions on Paytm Wallet, Paytm FASTag, Paytm UPI, and online banking more than the last many quarters.