Paytm Payments Bank on May 28 announced that it will soon start issuing physical debit cards by Visa. The firm has so far issued over 4.5 million virtual cards and is now targeting to issue over 1 million physical debit cards by end of FY 2021.

Paytm Payments Bank has already issued over 45 lakh virtual debit cards. It has now set a target to issue over 10 lakh physical debit cards by the end of this fiscal. Paytm is among largest issuer of RuPay Debit Cards in the country, which can be used by customers at all the major online merchants which accept Rupay cards.

“Through the Paytm Payments Bank section on the Paytm app, customers can not only apply for the physical card but can also set the pin of the card once they receive it,” it said in a release.

How to apply for physical debit cards by Visa?

Through the Paytm Payments Bank section on the Paytm app, customers can apply for a physical card. They can set the PIN once they receive the card. This debit card will let customers avail Visa offers, along with features such as international payments and ‘tap-and-pay’ transactions. According to the company’s management, this is another step to democratise the digital financial ecosystem in the country. “Physical cards will help more people have another payment method to rely on whenever they are out buying services or shopping. This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions,” Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd, said.

Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd said, “We are proud to bring out an all-new physical card with our long-standing partner Visa. This is yet another step taken by us to democratize the digital financial ecosystem in the country. Physical cards will help more people have another payment method to rely on whenever they are out buying services or shopping. This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions.”

Paytm Payments Bank physical debit cards features(after launch)
  • PPBL has enhanced the debit card experience with this offering by making the entire process digital.
  • Through the Paytm Payments Bank section on the Paytm app, customers can not only apply for the physical card but can also set the pin of the card once they receive it.
  • All possible card management controls are neatly built into the customers’ journey.
  • This card not only lets its customers enjoy an amazing bouquet of Visa offers, but also comes with features such as international payments and ‘tap-and-pay transactions.
  • Customers can therefore use this card across the globe.