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Paytm partners with NPCI to launch Paytm SBI card
May 19, 2023
One97 Communications Limited (OCL)-owned Paytm has partnered with NPCI and SBI Card to launch Paytm SBI Card on the RuPay network, the company said in a stock exchange filing on Thursday.
On joining, the customers can get privileges worth up to ₹75,000 with a complimentary Paytm First Membership that includes OTT platform membership, and flight ticket discounts through the Paytm app.
Cardholders receive cashback of 3% on Paytm SBI Card on booking movie and travel tickets on the Paytm app, 2% cashback on all other purchases on Paytm App, and 1% cashback on spends elsewhere.
\”Together with SBI Card, Paytm RuPay Credit Card will be a great choice for consumers. Our users are already savvy on QR code-based payments and with RuPay credit cards working on UPI QR codes, transactions through mobile phones will get a further boost, marking a new era in digital payments,\” said Vijay Shekhar Sharma, Founder and CEO, Paytm.
Cardholders of either variant will be entitled to 2% cashback on all Paytm ecosystem spends and 1% cashback on all other purchases except wallet reloads and fuel expenditures. They will also receive the added benefit of a 1% fuel surcharge waiver and ₹1,00,000 cyber fraud insurance coverage in the case of ‘Platinum’ cardholders, the company said in its statement.
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