Paytm and SBI cards collaborate for next-gen Rupay Credit Cards, promoting financial inclusion.
Paytm-SBI: A groundbreaking collaboration between Paytm, SBI Cards, and NPCI is set to introduce the Next Generation Co-branded Rupay Credit Cards. The primary objective of this alliance is to enhance Financial Inclusion. The forthcoming credit card promises an array of benefits, including welcome perks, cashback rewards, and numerous milestone advantages, ensuring an exceptional user experience.
Enabling the utilization of Paytm SBI cards on the RuPay network, UPI payment facility will also be initiated through credit cards. The underlying purpose of launching this credit card is twofold: expanding credit accessibility and integrating new users into the formal economy via financial inclusion.
Under the Welcome Benefit program, users will enjoy an exclusive privilege amounting to Rs 75,000. Additionally, they will be granted complimentary Paytm First Membership, encompassing benefits such as OTT platform subscriptions, discounted flight tickets, and bookings made through the Paytm app. This card specifically caters to digitally-savvy individuals, offering rewards and savings for both online and offline transactions conducted on the Paytm app. Cardholders will receive 3% cashback on travel and movie ticket bookings made through the Paytm app using the Paytm SBI card, along with 2% cashback on other purchases made on the Paytm app and 1% cashback for card usage elsewhere.
Commenting on the launch of the Paytm SBI Card, Vijay Shekhar Sharma, the Founder and CEO of Paytm, expressed that India stands at the forefront of the upcoming payment revolution, where credit will emerge as the leading payment option. The Paytm Rupay Credit Card, in collaboration with SBI Card, is poised to provide consumers with an exceptional choice. He further emphasized that Paytm's users are already well-acquainted with QR code-based payments, and the introduction of the UPI QR code for RuPay Credit Card will further fuel mobile-based transactions, paving the way for a new era in digital payments.
Read more: 7th Pay Commission: This state government increased salary-pension for 16 lakh employees, DA hiked by 4 percent
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