Paytm launches credit cards with rewards and cashback offers


NEW DELHI: Payment solution provider Paytm has launched a new product for the Indian financial market. The company has launched its new credit cards in association with various card issuers. The company has announced that it plans to issue nearly 2 million co-branded cards in the next 12 to 18 months.
With this new service in place, Paytm aims to offer complete control to cardholders to manage their transactions in real-time. It will be equipped with instant one-touch services such as change of the security pin number, updating the address, blocking the card in case of loss or fraud prevention, issuance of a duplicate card and viewing outstanding credit-limit. It will also have options to safeguard users against fraud by switching off the card for contactless payments or international transactions when not required.
The company also mentioned that the Paytm credit cards will offer insurance protection against fraudulent transactions to protect users money. This service will also come with a personalized spend analyzer helping in assessing expenses and planning future spends smartly.
Paytm also revealed that it has digitised the entire credit card experience on the Paytm app – from the application process to tracking and issuance of the credit card. It offers the flexibility of choosing a convenient time on the app itself for the collection of documents along with online tracking of card issuance and delivery.
The company will also be offering rewards to the customers on the transactions made using Paytm credit cards. The accrued rewards point will have no expiry and users will also be able to utilize those for various payments in the Paytm ecosystem. Since the cashback will be received directly in the form of Paytm Gift Vouchers, they can be spent anywhere.

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