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SBI Card and Paytm Together Launch Contactless Paytm SBI Credit Card

 


SBI Card and Paytm will launch India’s next generation credit cards. The credit card will be available in two variants, Paytm SBI Card and Paytm SBI Card SELECT, the product has been launched on the Visa platform.

Paytm SBI Cards completely reimagine the credit card experience by enabling smart app features and providing superior rewards & benefits for its users.

Features of the Paytm SBI credit card:

Customers can use Paytm SBI Card and Paytm SBI Card SELECT to maximize savings on following:

• Upto 5% Cashback on Paytm

o Movie Tickets

o Paytm Mall (Paytm ecommerce store where they can buy clothes, electronics, gadgets etc.)

o Travel Tickets (Bus, Train, Flights)

• 2% Cashback on other spends on Paytm App

o Utility Bills, Mobile Recharge etc.)

• 1% Cashback on all other online & offline spends

Highlights of Paytm SBI Card SELECT and Paytm SBI Card:

Paytm SBI Card SELECT

Welcome Benefit - Complimentary Paytm First Membership and INR 750 Cashback

Up to 5% Cashback on Paytm App spends and 1% Cashback on spend elsewhere

Gift Vouchers worth up to INR 6000 on achieving milestone spends

Complimentary Priority Pass Membership & Domestic Lounge Access

Cyber Fraud Insurance cover of Rs. 2,00,000

1% Fuel Surcharge Waiver

Paytm SBI Card

Welcome Benefit: Complimentary Paytm First Membership

Up to 3% Cashback on spends on Paytm App and 1% Cashback on other spends

Complimentary Paytm First Membership Voucher on card renewal

1% Fuel Surcharge Waiver

Cyber Fraud Insurance cover of R1,00,000

Paytm SBI Cards will be equipped with instant one-touch services such as blocking/ unblocking the card for online transactions, blocking the card in case of loss, issuance of a duplicate card and viewing outstanding credit-limit.

It will also offer the option to safeguard users against fraud by switching off the card for contactless payments or international transactions when not required. The service will also come with a personalized spend analyzer helping in assessing expenses and planning future spends smartly. Paytm users can register for the card from the app in less than 1 minute.

Designed for the new age, digitally savvy customers, Paytm SBI Card and Paytm SBI Card SELECT will bring customers rewards and savings upon using the card on the Paytm app as well as millions of online and offline stores.

Cardholders receive cashback of 5% and 3% on Paytm SBI Card SELECT and Paytm SBI Card respectively, upon booking movie tickets and travel tickets on Paytm app as well as on purchasing items from Paytm Mall.

For other spends on Paytm app using the Paytm SBI Cards, cardholders receive 2% cashback while 1% cashback is offered on spends elsewhere.

The card will be available to customers around Diwali. However, select customers have a chance to apply for Early Access to the card by joining the waitlist that has gone live on the Paytm App from 1st Nov.

Talking about the association with Paytm, Mr. Ashwini Kumar Tewari, MD & CEO, SBI Card said, “The credit card industry in India remains largely underpenetrated. Also, given the current scenario where social distancing is a way of life and cashless payments are a safer alternative, there has been a renewed impetus to digital payments from all corners. Our strategic partnership with Paytm is intended towards making credit cards more accessible to all. Through this partnership, we will also be able to leverage Paytm`s extensive reach to bring new age, digitally evolved consumers across India, a safe, convenient, and rewarding payment solution, combined with the benefits of a credit card. Further, in an innovative move, we will be underwriting customers basis their transaction history on Paytm, thereby bringing the Paytm SBI Card seamlessly to a huge customer base."

Bhavesh Gupta (CEO - Paytm Lending) said, "We proudly welcome SBI Card as our partner to introduce India's most sincere credit card with intelligent features and great rewards that never expire. Our cards are truly designed to benefit India’s aspiring youth and evolved professionals. These cards will help them lead a healthier financial life by managing and analyzing their spends through the Paytm app and make well-informed financial decisions. Our partnership aims towards democratizing access for credit cards amongst masses. We believe this can transform the credit market by bringing 'new to credit' users into the formal economy" and providing a truly personalized card management experience to our customers."

T R Ramachandran, Group Country Manager, India and South Asia, Visa added, “We are delighted to join hands with two of our valued partners in India, SBI Card and Paytm to bring this unique offering to the market. Besides the relevance of the tap to pay card at times like these, the premium offers and discounts packaged by the three partners into this card make it an exciting offering for Indian consumers. We are excited about the prospect of this exclusive partnership introducing products and solutions to onboard a new generation of Indians to digital payments."

Paytm SBI Card SELECT customers get complimentary Priority Pass Membership for first two card membership years as well as four complimentary domestic airport lounge visits per year.

Along with these benefits, the cards also reward customers for their loyalty through various annual milestone benefits. Paytm SBI Card SELECT customers can avail gift vouchers of up to INR 6000 annually on achieving certain milestone spends while Paytm SBI Card customers get complimentary Paytm First Membership Voucher upon achieving annual retail spends of Rs. 1 lac. The cardholders also get 1% fuel surcharge waiver along with cyber fraud insurance cover of 1 lac and 2 lacs respectively for Paytm SBI Card and Paytm SBI Card SELECT.

Customers can apply for the Paytm SBI Card and Paytm SBI Card SELECT online through the Paytm App. Both the cards can be availed at the annual fee of INR 499 and INR 1499 respectively. Customers will also have an option to choose from two-color variants on the Paytm App.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

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