NEW DELHI: Paytm Payments Bank will now issue Mastercard debit cards to its account holders to enable them perform online transactions, make payment in stores as well as withdraw cash from ATMs.
“Paytm Payments Bank Ltd (PPBL) has partnered with Mastercard for the issuance of virtual and physical debit cards. To start with, PPBL will issue Mastercard virtual debit cards to its new customers, enabling them to perform secure online transactions that make everyday purchases faster, easier and safer,” PPBL said in a statement on Thursday.
PPBL has announced that it aims to issue over 10 million digital debit cards in FY 2020-21.
“Soon customers will also have an option to request a physical card, enabling them to do contactless in-store transactions supported by Mastercard’s chip-based technology. Additionally, they will be able to withdraw cash at more than 1 million ATM terminals across most of the world,” the statement said.
PPBL claims to have 5.7 crore bank account holders and 30 crore digital wallets. (AGENCIES)
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