Paytm unveiled its second credit card in association with SBI Card. The business is collaborating for the first time with RuPay from the National Payments Council of India (NPCI). Vijay Shekhar Sharma, the founder and chief executive of Paytm, referred to this alliance as a “Killer combo.”
According to the company, as a welcome bonus, it provides customers with special privileges worth up to Rs 75,000 along with a free Paytm First Membership that also includes OTT platform membership and flight ticket discounts through the Paytm app. The company said in a statement that the cards which are intended for those who are technologically savvy, offer rewards and savings when used on the Paytm App and at millions of online and offline retailers. On the Paytm SBI Card, cardholders can book movie and travel tickets for 3% cashback, all other Paytm app purchases for 2% cashback, and all other purchases for 1% cashback.
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While speaking at the launch event that took place in Mumbai, Praveena Rai, COO, NPCI said that they are delighted to partner with Paytm. Meanwhile, Vijay Shekhar Sharma said that Rupay from NPCI has changed the game! RuPay and NPCI have been leading the charge for financial inclusion, which includes reach, accessibility, and customer convenience. Therefore, we will use RuPay to ride this wave along with SBI Card. This will be a significant leap.
Rama Mohan Rao Amara, MD & CEO of SBI Card, who was also present at the launch, was the subject of a conversation that Sharma also shared. “Rao is getting calls on the company’s customer care support line asking for a RuPay card,” he stated. That proves beyond a doubt that our collaboration with RuPay will be a winning formula for success.
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