Paytm Payments Bank Ltd (PPBL) announced that it will now start issuing Visa debit cards to its customers. With this partnership, Paytm is targeting to issue over 10 million new digital debit cards in fiscal year 20-21. The bank, known for introducing neo-banking in the country, is already the largest issuer of RuPay Debit Cards and has the fastest growing bank account base.
Paytm Payments Bank will issue Visa virtual debit cards to its customers, which will enable them to transact at all merchants accepting payments through cards. For the first time, the bank’s customers will also be able to make international transactions using their Visa debit cards. Soon, the customers will also have an option to request for a physical card. This will enable customers to make contactless payment through their chip-inserted cards.
With over 57 million digital debit cards, the payments bank now has a debit card in every district of India.