Paytm Launches Credit Card With Smart App Features, Aims 2 Million Cards
By: Sneha Chaudhary
Paytm announced on Monday the launch in India of its new credit card, known as the Paytm Card. The ‘next-generation credit cards’ would allow the digital economy to be entered by the new generation of credit. The Company has said that it’s software or Smart App has designed a revolutionary digital experience on it that enables consumers to monitor their total expenses and have maximum discretion over the use of the card.
This is what you need to know about your Paytm Card:
Features of Paytm Credit Card
Paytm has announced that it will be partnering to launch co-branded cards with separate card issuers. With the Paytm card, in the next 12-18 months, the brand aims to issue two million cards.
The credit cardholders of Paytm with the help of smart app they will automatically adjust the number of the protection pin, update the address, block the card in the event of failure or fraud prevention, apply for a duplicate card, and display the outstanding credit cap. To protect users’ money, it will also provide insurance protection against fraudulent transactions.
Customers of Paytm will get the whole experience on the Paytm Smart app. From the submission of online application and more. From now on, along with online monitoring of card issuance and delivery, one can pick a suitable period on the app itself for gathering documents.
The company says Paytm Credit cards will provide a convincing loyalty scheme. For any purchase, users can also get cashback. There will be no expiry of an accumulated rewards point. Users will also be eligible to use those in Paytm for multiple payments. The cashback is going to be in the form of Paytm Gift Cards, which ensures it can be used anywhere.
Bhavesh Gupta, CEO of Paytm Lending, said, “Credit cards are mostly considered a commodity for the affluent parts of society in our country, and not everyone can avail of its benefits.” Paytm aims to provide credit cards benefits India’s youth and established professionals. By monitoring and reviewing spending to make well-informed decisions, these cards are designed to help us lead a healthy financial life.