The payment company, PayTM, has launched a credit card service by joining hands with Citi Bank. The Global Payment Company Visa has included the Paytm Payments Bank in its network. Now PayTM will issue a debit card written by Visa. About 30 million people in India already use PayTM service. By joining hands with Citibank, the payments company wants to add this customer class with you.
The Patiala Bank was still providing digital debit cards to the customers opening the account with them. Now the physical cards will be issued to the customers. One of the seven payment banks licensed by the Reserve Bank of India, PayTM, was still issuing RuPay (rupees) debit card. PayTM Payments Bank will continue to issue the Rupee Debit Card to the customers. There are currently 4.4 million Virtual Savings Accounts in the bank.
We are working on a plan to offer credit cards in conjunction with Patmem Payments Bank. This will enable better customer service for the growing customer base of PayTM. - Alfred F. Kelly, Visa Chief Executive Officer
According to TR Ramachandran, country manager of Visa Group in India and South Asia, "PayTM Payments Bank has formally joined the Visa Network as a member so that soon PayTM is able to issue Visa cards in the Indian market."
Paytm is doing its best to provide all types of banking facility to its Payments Bank customer. This includes the Paytm Payments Bank Debit Card. By the way, Paytm Payments Bank offers free digital debit card on its savings account. But you can also take physical debit cards from it. However, customers have to apply it separately. This card has the facility of insurance, along with payment, transaction, as is the case with other banks.