India’s Paytm Payments Bank (PPB) has collaborated with National Payments Corporation of India (NPCI) to introduce RuPay-powered digital debit card.
The newly launched card will enable users to make payments at all the merchant locations, which accept credit and debit cards.
The debit card will be issued to all customers who already have a bank account with PPB, while the existing Paytm users can get the free digital RuPay card by completing a KYC process.
The customers who use online platforms such as Ola, Flipkart and Amazon will now be able to make transactions using Paytm wallets.
PPB digital debit card also offers free insurance cover of up to INR200,000 ($3,126) in the case of death or permanent total disability.
Paytm Payments Bank MD and CEO Renu Satti said: “Our customers will now be able to pay across all online platforms with our digital debit card and experience the same convenience that they have been accustomed to across the Paytm ecosystem.
“The brand is looking to partner with other full-service banks to offer different services like term deposits, retail and SME loans.”