Paytm Launches Paytm SBI Card on RuPay Network with NPCI

Paytm Launches Paytm SBI Card on RuPay Network with NPCI

Paytm’s parent company, One97 Communications Ltd, has announced a new partnership with SBI Card and the National Payments Corporation of India (NPCI) to launch the Paytm SBI Card on the RuPay network.

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This card will provide discounts on transactions made through the Paytm mobile app using the card, with cardholders receiving 3% cashback on booking movie and travel tickets on the Paytm app, 2% cashback on all other purchases on the Paytm app, and 1% cashback on spends made elsewhere.

Paytm Launches Paytm SBI Card on RuPay Network with NPCI: Key Points

• Earlier this year, the Reserve Bank of India (RBI) made it possible for users to link RuPay credit cards to the United Payments Interface (UPI), and NPIC subsequently enabled aggregators such as Paytm, Google Pay, BharatPe, and PayU to facilitate merchant transactions through RuPay credit cards on UPI in India.
• Since NPCI’s launch of credit card services on UPI, we are constantly working towards providing unique, value-based RuPay credit cards.
• RuPay progressively establishes itself as a modern, contemporary, and youthful brand by offering customized value propositions backed by cutting-edge technology.
• The platinum and classic variants of this card will both provide 2% cashback on all Paytm ecosystem spends and 1% cashback on other purchases, excluding wallet reloads and fuel expenditures.
• Platinum cardholders will also receive a 1% fuel surcharge waiver and Rs 1,00,000 cyber fraud insurance coverage.

Important Takeaways For All Competitive Exams:

• MD and CEO of SBI Card: Rama Mohan Rao Amara
• Chief operating officer (COO) of Paytm: Praveena Rai

Also Read: Amazon Web Services Announces $12.7 Billion Investment in India’s Cloud Infrastructure by 2030

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