Paytm launches its’ First Credit Card with Citibank



Paytm has tied up with Citi Bank and launched a credit card, called the Paytm First Card, here today. The Paytm First Card is similar to any other branded credit cards that banks are offering in the market, the company said in a statement today.

The Paytm is offering its customers one per cent unlimited cashback to its customers on its Paytm First Cards. Of course, it comes with no restrictions on earning categories. The annual fee of Rs. 500 will be charged. However, it offered to waive if the spending limit exceeds Rs. 50,000 per year.

Paytm asked its customers to apply for the First Card directly from the Paytm app, though it will be given on the basis of individual digital behaviour. The card will offer Paytm promo codes worth Rs. 10,000 on spending a minimum of Rs. 10,000.

Paytm claims that its’ new credit card can be used internationally unlike the Paytm debit card that was launched in September 2017 and was confined to inland transactions in India. It is also claimed to bring exclusive offers on dining, shopping, and travel among others through Citi Privilege platforms.

The Chairman and CEO, One97 Communication Vijay Shekhar Sharma said in the statement: “Our new offering is designed to bring utmost flexibility to our customers in their digital payment options will help spur large-ticket cashless payments.”