We are glad to announce that we have started issuing the much awaited Visa Debit Cards to our customers.
We are India’s largest and only profitable payments bank and the second largest issuer of RuPay Debit Cards, we have also acquired the spot for fastest growing bank account base.
Our Visa virtual debit cards, will enable you to transact at all merchants accepting payments through cards.
Now you can make international transactions using your Visa debit cards. Soon, you will also have an option to request for a physical card. This will enable you to make contactless payment through the chip-inserted cards.
We are glad to let you know that we played a leading role in spreading the reach of debit cards across the country. With over 57 million digital debit cards, we now have a debit card in every district of India. With this partnership, we target to issue over 10 million new digital debit cards in FY 20-21.
We lead digital banking in India and have been consistently out-performing our industry peers on several parameters. Our performance have also been recognized by the Ministry of Information & Technology (MeitY) in the form of Digital Payments Award for Highest Category of 100 crore digital transactions – the largest and the only bank to do so in the 100 Cr+ category.
Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd said, “As we continue to strive and bring half-a-billion Indians to the mainstream digital economy, it is indeed a proud moment for us to partner with Visa. This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions.”
Commenting on the partnership, TR Ramachandran, Group Country Manager, India & South Asia, Visa, said, “Debit cards, because of their ease to use and familiarity, continue to be the first choice of newly banked customers. They play a critical role to migrate these customers to the digital economy and help them make non-cash transactions. We are extremely delighted to partner with Paytm Payments Bank and provide virtual debit cards to their customers and reinforcing the vision of a less-cash society.”
We continue to be India’s most successful payments bank and a comprehensive platform of funding sources. Besides 100 million UPI handles, there are 300 million wallets, 220 million saved cards and 57 million bank accounts on our platform.