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Paytm Launches its First Credit Card in Association with Citibank
New Delhi : Paytm has launched its first credit card “Paytm First Card” in association with Citibank. With this, it was said in a statement that customers can apply for this credit card through Paytm App. It further said that they would also get promo codes of Rs. 10000 for the minimum spending of Rs. 10000 for the first four months of having the card. The transactions through this card can be tracked on Paytm First Card Passbook given on Paytm app. The unique offers from Citibank and Paytm will also be notified on real time basis.
On this launch, Vijay Shekhar Sharma, CEO of One97 Communication said that this new offering is aimed to give more digital options of payments to the customers with flexibility, that will eventually lead to more large cashless payments.
This credit card will be valid in India as well as in the world and there will be no hidden charges. The annual fee of Rs.500 will not be charged on annual spending of more than Rs.50000. Equated Monthly Installments facility will also be available for purchases made through this card.
It is noteworthy that One97 Communication, the parent company of Citibank, started in 2009 as a Citi Commercial Banking Client. In 2016, Paytm Wallet was linked to CitiBank’s online and mobile app for convenience of Citi’s customers.