Paytm, SBI Card and NPCI to launch co-branded RuPay credit cards to drive credit inclusion
One97 Communications Limited (OCL), which owns the brand Paytm, today announced that it has partnered with India's largest pure-play credit card issuer SBI Card, to launch Paytm SBI Card on the RuPay network. The three homegrown brands, Paytm, SBI Card and NPCI, have joined forces to drive credit inclusion. They bring benefits, spend-based cashback points and milestone benefits for the most rewarding experience.
Apart from that, the new product drives convenience by enabling customers to use the Paytm SBI Card on RuPay network, where UPI payments through credit cards will be live shortly. Above all, it looks to expand access to credit and foster financial inclusion by bringing ‘new to credit' users into the formal economy
The Paytm and SBI Card partnership is expanding with the addition of National Payments Corporation of India's RuPay. The next-generation co-branded card redefines the credit card experience by offering exceptional rewards and benefits for its users.
As a welcome benefit, customers can enjoy exclusive privileges worth up to Rs. 75,000 with a complimentary Paytm First Membership that also includes OTT platform membership, flight tickets discounts through Paytm app.
The cards offer rewards and savings when used on the Paytm App and millions of online and offline stores. 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.
Vijay Shekhar Sharma, Founder and CEO, Paytm said, “India is at the cusp of the next payments revolution where credit will become the mainstream payment choice.”
According to Rama Mohan Rao Amara, MD & CEO, SBI Card, “We partnered with Paytm to launch this
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