Paytm Payment bank customers would now be getting ‘Visa’ powered debit cards like other bank’s customers. Paytm has partnered with Visa to issue over 10 million new digital debit cards. The issuance of the card would be done in the coming financial year.
As of now, most of the Paytm Payment bank users were issued RuPay Debit Cards. Paytm is already the largest issuer of RuPay Debit Cards in the country. Since RuPay card is not accepted at all the merchants the customers were facing issues in transactions. However, with this move, the problem of Paytm’s growing and existing user base would be settled.
As of now Paytm would issue Visa virtual debit cards to the new customers. The physical card would be issued subsequently. Further Paytm Payment bank customers would be the first time able to make international transactions using their Visa debit cards. With a base of over 57 million digital debit cards, Paytm’s payments bank has already made its presence in every district of the country.
“As we continue to strive and bring half-a-billion Indians to the mainstream digital economy, it is indeed a proud moment for us to partner with Visa. This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions,” Said Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd.