Site icon

Paytm Launches Paytm SBI Card on RuPay Network with NPCI

Partnership Announcement

One97 Communications Ltd, the parent company of Paytm, has partnered with SBI Card and the National Payments Corporation of India (NPCI) to introduce the Paytm SBI Card on the RuPay network.

Benefits and Cashback Offers

The Paytm SBI Card will offer discounts on transactions made through the Paytm mobile app. Cardholders will receive 3% cashback on movie and travel ticket bookings, 2% cashback on all other purchases within the Paytm app, and 1% cashback on spends made elsewhere.

Integration of RuPay and UPI

Earlier this year, the Reserve Bank of India (RBI) enabled the linking of RuPay credit cards to the United Payments Interface (UPI). Following this, NPCI allowed aggregators like Paytm, Google Pay, BharatPe, and PayU to facilitate merchant transactions through RuPay credit cards on UPI in India.

Customized Value Propositions

RuPay aims to position itself as a modern and contemporary brand by offering tailored value propositions supported by advanced technology. The launch of credit card services on UPI is a step towards providing unique and value-based RuPay credit cards.

Features of the Paytm SBI Card

Both the platinum and classic variants of the Paytm SBI Card will provide 2% cashback on all Paytm ecosystem spends and 1% cash back on other purchases, excluding wallet reloads and fuel expenses. Platinum cardholders will also enjoy a 1% fuel surcharge waiver and Rs 1,00,000 cyber fraud insurance coverage.

Key Executives

Rama Mohan Rao Amara serves as the MD and CEO of SBI Card, while Praveena Rai is the Chief Operating Officer (COO) of Paytm.

Paytm Launches Paytm SBI Card – FAQs

Q1: What is the Paytm SBI Card?

Ans: One97 Communications Ltd., the parent company of Paytm, released the Paytm SBI Card in collaboration with the SBI Card and the National Payments Corporation of India (NPCI). It uses the RuPay network to function.

Q2: What benefits does the Paytm SBI Card offer?

Ans: The Paytm SBI Card offers cardholders a number of advantages. The Paytm app offers users 3% cashback on all movie and travel ticket purchases, 2% cashback on all other app purchases, and 1% cashback on all other transactions.

Q3: Can I use the Paytm SBI Card for transactions outside of the Paytm app?

Ans: Yes, transactions outside of the Paytm app are possible with the Paytm SBI Card. Cardholders will receive 1% cashback on any other purchases, barring those made through the Paytm app.

Author

  • Priti Palit, an accomplished edtech writer, boasts a wealth of experience in preparing candidates for multiple government exams. With a passion for education and a keen eye for detail, she has contributed significantly to the field of online learning. Priti's expertise and dedication continue to empower aspiring individuals in their pursuit of success in government examinations.

Exit mobile version