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Fintech & Ecommerce

Paytm starts issuing physical cards

Apr 23, 2020

The partnership offers customers high-security levels for digital transactions

Paytm and Mastercard

Paytm starts issuing physical cards. Source: shutterstock.com

Paytm announced its partnership with Mastercard which enables issuing both virtual and physical cards.

Initially, the company started issuing only virtual debit cards to beta customers. This way, they could perform secure online transactions, making an everyday purchase faster, easier, and safer. Soon this will be available for all Paytm customers.

Besides, they will also have an option to request a physical card, which will enable them to carry out contactless in-store transactions supported by Mastercard’s chip-based technology.

In addition to that, the bank will allow withdrawing cash at more than 1 million ATM terminals across most of the world.

While digital payments are taking off in India, growing faster than many other countries around the world, 90% of all retail transactions are still in cash. Mastercard is committed to the Government of India’s vision to fuel the growth of digital payments. Towards this goal, Mastercard is pleased to offer its fully-integrated global payment platform to Paytm Payments Bank to enable cardholders to have access to the safest way of making electronic payments
Porush Singh, Division President, South Asia, Mastercard

We’ve reported that Mastercard company announced a partnership with Microsoft. This way, Microsoft customers can get easier access to their digital purchase receipts through their banking apps, enabled with Ethoca’s Digital Receipts service.

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