One97 Communications Ltd, the parent company of Paytm, has recently announced a strategic partnership with SBI Card and the National Payments Corporation of India (NPCI) to introduce the Paytm SBI Card on the RuPay network.
This collaboration aims to offer customers a credit card that is linked to the Paytm mobile app and operates on the RuPay network. The Paytm SBI Card will provide various benefits and discounts for transactions made through the Paytm app using the card.
Cardholders can enjoy 3% cashback when booking movie and travel tickets on the Paytm app, 2% cashback on all other purchases within the Paytm app, and 1% cashback on transactions made elsewhere. The partnership leverages the capabilities of NPCI’s credit card services on the United Payments Interface (UPI), allowing aggregators like Paytm to facilitate merchant transactions through RuPay credit cards.
The Paytm SBI Card offers two variants: platinum and classic. Both variants provide 2% cashback on all transactions made within the Paytm ecosystem and 1% cashback on other purchases (excluding wallet reloads and fuel expenses). Platinum cardholders also enjoy a 1% fuel surcharge waiver and Rs 1,00,000 cyber fraud insurance coverage.
This collaboration signifies the ongoing efforts of NPCI to expand its credit card services on UPI and establish RuPay as a modern, technologically advanced brand that offers tailored benefits to users. By joining forces with SBI Card and Paytm, NPCI aims to enhance the value proposition of RuPay credit cards and cater to the needs of a youthful and tech-savvy customer base.
Overall, the launch of the Paytm SBI Card on the RuPay network with NPCI is set to provide customers with a seamless and rewarding payment experience, along with exclusive discounts and cashback offers when using the Paytm mobile app.
