Paytm on Monday announced it will introduce credit cards for young people and new professionals. The company said it has partnered with various card issuers to launch co-branded credit cards. Paytm plans to issue two million cards to customers in the next 12-18 months.
Speaking of the introduction of Bhavesh Gupta, CEO – Paytm Lending said: “In our country, credit cards are still considered a product for the wealthy sections of society and not everyone can benefit from them. At Paytm, our goal is to provide credit cards for the benefit of India’s aspiring young and advanced professionals. These cards are designed to help them lead healthier financial lives by managing and analyzing expenses to make well-informed decisions. This can transform the credit market by bringing “new credit” users into the formal economy “,
Here are five key points you need to know about Paytm credit cards
– Paytm will work with various card issuers and banks to provide credit cards to users. The company said it aims to provide cardholders complete control to manage their transactions in real time.
—Paytm credit card holders will be able to instantly change their security PIN code, update their address, block their card in the event of loss or fraud prevention, request a duplicate card and view the outstanding credit limit. It will also provide insurance protection against fraudulent transactions to protect users’ money. “This service will also come with a custom expense analyzer that helps you to assess expenses and plan future expenses intelligently. All this makes for a healthy customer experience, where the entire universe of services related to the credit card account can be used. There is absolutely no need to visit the bank branch or call customer support, ”the company said in a statement.
– First-time users won’t need to go to a bank branch or call customer support, everything can be done through the app. Users can apply through the app and can also monitor the issuance of the new credit card on the card. Documents can be collected at the time and date chosen by the customer.
– Paytm will offer users the option to deactivate their credit card for contactless payments or international transactions if it is not in use. This step should be done to curb online fraud.
– Paytm had unveiled the first credit card called Paytm before in partnership with Citibank.
Paytm on Monday announced it will introduce credit cards for young people and new professionals.
- Paytm will introduce credit cards for young people and new professionals.
- The company said it has partnered with various card issuers to launch co-branded credit cards.
- Paytm plans to issue two million cards to customers in the next 12-18 months.