Paytm, the biggest UPI supported cashless transaction platform and digital wallet in the country has just recently announced that it will be launching a physical debit card which is issued by Visa. It currently only offers physical cards by Rupay and virtual debit cards by Visa. The transaction company said that these physical Visa debit cards will allow users and customers to use them at over 50 lakh access and acceptance points. There will also be the feature of tap and pay to allow contactless transactions. The Paytm Payments Bank has already issued over 45 lakh virtual debit cards and has already set a target to issue more than 10 lakh physical debit card by the end of this fiscal year.
Paytm is one of the largest company that issued Rupay debit cards. It can be used at a wide range of merchants who accept Rupay cards.
This service is now available but the users do not know how to apply for it. Here’s how you can apply for the physical debit card. The user can apply for it through the Paytm app on their phones. They can fill in the required details and request for it to be delivered at your doorstep. Once received, the user can set the PIN of the card. After setting up the card, the customers can avail a huge variety of Visa offers, services and features such as international payments and tap and pay for transactions.
As per the statement given by the management, this is yet another step taken to democratise the digital payment system in the country and provide wide range of options to the customers.
Satish Kumar Gupta, the Chief Executive Officer and Managing Director of the Paytm Payments Bank Ltd., in a statement said- “Physical cards will help more people have another payment method to rely on whenever they are out buying services or shopping. This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions”