Wednesday, May 15, 2019

Paytm Credit Card Launched With "Universal Unlimited Cashback" in Partnership With Citi

Paytm in partnership with Citi is about to launch a credit card namely Paytm First Card. The new Paytm Credit Card is said to offer 1% unlimited cash back to its customers with no restrictions. It is being called Universal Unlimited Cashback. 

Paytm First Card

The annual fee for this Paytm First Credit Card is Rs 500 but this can be waived off it the total annual expenditure is Rs 50,000 or more. Paytm First Card is similar to other partnered or co-branded credit cards that retailers and airlines offer and uses Visa network for transactions.

You can also check your eligibility for Paytm Credit Card by the tool that is developed by Paytm itself.

How to Apply for Paytm Credit Card

You can apply for the Paytm First Card from the Paytm app itself. However, the company will verify your digital background before issuing the same to you. The card will offer Paytm promo codes worth Rs. 10,000 on spending a minimum of Rs. 10,000.

Cashback Offers on Paytm Credit Card

Paytm says that it will offer unlimited one percent cashback without any restrictions which will be auto-credited every month.  You can track your expenses and exclusive offers from both Paytm and Citi on a real-time basis through the passbook.

Annual Fees of Paytm Credit Card

Paytm will charge Rs 500 as an annual fee for Paytm First Card which will be reversed on the annual expense of Rs 50,000 or more. Another good point of this card is that this can be accepted globally unlike the Paytm Debit Card which is accepted in India only. This happened because of Citi and Visa. It is also claimed to bring exclusive offers on dining, shopping, and travel among others through Citi Privileges platform.

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

Interesting to know that Paytm credit card comes as a unique offering by the two companies. It's majorly competing against the Apple Card that debuted in the US in March. Apple announced a one percent Daily Cash for purchases made using the titanium credit card that has been designed in collaboration Goldman Sachs and Mastercard.

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