Paytm Payments Bank to issue 10 mn Visa virtual debit cards to customers by 2020-21
Paytm Payments Bank Ltd announced on Wednesday it will now start issuing Visa virtual debit cards to its customers
Bengaluru: Paytm Payments Bank Ltd announced on Wednesday it will now start issuing Visa virtual debit cards to its customers.
PPBL said it is targeting to issue over 10 million new digital debit cards in 2020-21.
The bank said in a statement it is already the largest issuer of RuPay debit cards and has the "fastest-growing" bank account base.
Visa virtual debit cards would enable its customers to transact at all merchants accepting payments through cards.
For the first time, the bank's customers would also be able to make international transactions using their Visa debit cards, it said.
Soon, the customers will also have an option to request for a physical card.
This will enable customers to make contactless payments through their chip-inserted cards.
As many as 11 companies including Reliance Industries and India's top three telecom operators were in 2015 permitted by the Reserve Bank of India (RBI) to set up payments banks which can take deposits and remittances but cannot lend.
Here are all the FAQs you may have about the new Paytm Payments Bank that was launched today in India.
With the PPB Digital debit card, customers will now be able to transact at all merchants who accept credit and debit cards.