Money & Banking

Paytm Payments Bank rolls out ‘Paytm Transit card’

K. R. Srivats | | | Updated on: Nov 29, 2021
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The card can be used for travel in metros, buses and trains, toll and parking charges, payment at offline and online stores and withdrawal of cash from ATMs

Paytm Payments Bank (PPBL) has rolled out a ‘Paytm Transit Card’, aiming to equip millions of Indians with one physical card for all their everyday needs — from travel in metro, railways, State-owned bus services, toll & parking charges to payments at offline merchant stores, online shopping and more.

The first phase of rollout is being launched in collaboration with Hyderabad Metro Rail, Ahmedabad Metro and the Delhi Airport Express Line.

The card linked to the Paytm Wallet can be used for all transactions of a user — from travel in metros, buses and trains, to pay toll and parking charges, payment at offline and online stores to withdrawal of cash from ATMs.

Users can top up the Paytm Wallet account to use the card and do not need to maintain any separate account. Satish Gupta, MD & CEO of Paytm Payments Bank said, “The launch of the Paytm Transit Card will enable millions of Indians with the power of one single card that takes care of all transportation as well as banking needs. This will drive financial inclusion and accessibility for all. We are glad to be a part of the NCMC initiative and will continue to work towards the digitisation of the transit ecosystem in the country while driving the adoption of smart mobility solutions.”

With this launch, users won’t have to worry about carrying multiple cards for different purposes and just use the Paytm Transit Card for all their payments.

The launch of the Transit Card is aligned with the firm’s initiatives to bring out products that make banking and transactions seamlessly operable for all Indians. ‘Paytm Transit Card’ would help promote National Common Mobility Card (NCMC) and the Digital India initiative further.

How it works

The physical card will be delivered at the doorstep of the user or can be purchased at designated sales points. The prepaid card is directly linked to the Paytm Wallet, where users can just top-up the wallet to use the transit card and do not need to create any separate account.

The Paytm Transit Card is already live in the Delhi Airport Express line and Ahmedabad Metro. With the Paytm Transit Card, people can use the same card in these metros as well as other metro stations across the country.

Paytm Transit Card is the firm’s second product in the mass transit category after the success of PPBL FASTags. .

Published on November 29, 2021

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