Paytm to launch Credit Cards

[Sushubh]

Oh so that would be a brand card where citibank was the actual bank. Here they are themselves the bank.

 

[Navjot Singh]

Errm

We will be partnering with various card issuers to introduce co-branded cards and are aiming to issue two million cards in the next 12–18 months.

 

[Sushubh]

So payments banks can't issue cards? I guess that makes sense.

 

[mhsabir]

Paytm First Credit Card

Looks like Citibank is still in offer.

I guess here they will be more involved in the risks/rewards. Citibank gives statement credit - Here they will probably give Paytm cashback etc.

 

[mhsabir]

Based on news articles, they have tied up with SBI now for the credit card.

 

[Tejas01]

Once bitten, twice shy...
When it comes to money it's better to play safe. Saying this from a harrowing experience my friend had to go through for paying rent in Delhi.

 

[Navjot Singh]

There are 2 cards - Paytm SBI Card and Paytm SBI Card SELECT

In the Early Access stage, a limited number of users will be given exclusive access to apply for the cards. To get early access, users will have to submit a few details on the Paytm App.

Users who have signed up for early access would join the waitlist. They can jump the waitlist slot positions by performing suggestive actions such as Checking their Credit Score (CIR check), Activating Paytm Postpaid and Making Payments through Paytm Postpaid.

Basically its OneCard all over again.

Annual fees for Paytm SBI Card = ₹ 499
Annual fees for Paytm SBI Card SELECT = ₹ 1499

 

[Sushubh]

But is it metal

 

[Navjot Singh]

Nope. It is mental. Looks worse than their Citibank card for which they seem to have closed applications?

 

[Sudarshan61]

Basically its OneCard all over again.

Annual fees for Paytm SBI Card = ₹ 499
Annual fees for Paytm SBI Card SELECT = ₹ 1499

most of the features looks like mixture of ICICI Amazon Pay + Axis Ace card