In yet another massive move, Paytm announced on Wednesday that it will soon commence the issuance of Visa Debit Cards. The Noida-based fintech giant announced that it would be providing its customers with virtual cards through its payments bank division.
Happy to share that we have started issuing @Visa Debit Cards to our customers! 💳
Our Visa virtual debit cards will enable you to transact at all merchants accepting payments through cards.
— Paytm Payments Bank (@PaytmBank) March 18, 2020
The virtual instrument will allow users to transact at any port accepting payment through cards. Already one of the largest issuers of RuPay Debit Cards, Paytm has aimed to lead the spread of debit card, and digital payment usage across the country. Having already introduced its very own POS devices, the company has already proved its initiative in achieving this goal.
Paytm hopes to soon offer customers the option to request for physical Visa cards as well. These will enable users to make contactless payment through the chip-inserted cards.
Commenting on the partnership, CEO and Managing Director of Paytm, Satish Kumar Gupta stated, “This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions.”
The addition to the company’s offering is sure to go a long way in its goal half-a-billion Indians to the mainstream digital economy.