Paytm, an Indian e-commerce payment service owned by One97 Communications, has formed a new alliance to enable credit card payments for Visa customers.
The Paytm mobile app will use BHIM UPI to pull funds for the customer to pay for the bill. This new payment option is available for all Visa cardholders, irrespective of the issuing bank.
During the current financial year, Paytm aims to process more than two million credit card bill payments.
A statement from Paytm read: “We are glad to announce our partnership with Visa to make Visa credit card payments across banks on the Paytm app.
“VISA Credit Card users can now pay their monthly bills at anytime, anywhere using their preferred payment method including UPI, net banking and debit cards.”
The company expects the new update to its platform will offers better convenience for monthly Visa credit card bill payment.
Visa India head of business development said: “With Visa credit card bill payments now enabled on Paytm, it effectively marks the complete digital transformation of the credit card ecosystem.
“From issuance to purchases and now bill payment, the Visa credit card is now truly a preferred digital payment tool for India’s mobile-first generation.”
Last week, another India-based digital financial services platform MobiKwik added a similar option to enable on-the-go credit card bill payments for Visa customers.