Good News for Users: Paytm to launch credit cards, read its special features here
To make it easier for new users to join the credit market Paytm announced that it is coming up with credit cards.Paytm is designing a special feature that would allow users to manage their transactions and have full control over the card usage.
To enable the process, Paytm will partner with leading banks. It also aims to issue two million cards in the next 12-18 months.
Talking about launching credit cards, Bhavesh Gupta, CEO – Paytm Lending said, In a Statement “
- Our aim is to provide credit cards that benefit India’s aspiring to all youth and evolved professionals. These cards are designed to help them lead a healthier financial life through managing and analyzing the spends to make well-informed decisions. This can transform the credit market by bringing ‘new to credit’ users into the formal economy.”
- with its credit card, Paytm aims to bring the credit card experience to the young professionals and the college-goers. Now users can instantly change the security pin number, update the address, block the card in case of loss or fraud prevention, apply for a duplicate card, and view outstanding credit-limit. It will be also provide insurance protection against fraudulent transactions to protect users’ money.
- Paytm has said that everything can be controlled from the app and users will not have to visit the bank branch or call customer support.
- “Paytm Credit cards will have a transparent & compelling rewards program with assured cashback on every transaction.
The accrued rewards point will have no expiry and users will also be able to utilize those for various payments in the Paytm ecosystem. Since the cashback will be received directly in the form of Paytm Gift Vouchers, they can be spent anywhere. It will also give great lifestyle benefits for the users in the form of discount vouchers & complimentary memberships across travel, entertainment, food, and many such categories,” Paytm said in a statement.