Digital transactions have increased significantly in the Corona era. In view of this, digital payment company Paytm has announced the creation of co-branded credit cards to provide more facilities to customers. Through this, people at a large level in the country will have their own Paytm credit card.
Cashback will be available on every transaction
The company has set a target of 2 million subscribers in the next year and a half. The company said that in Paytm's payment system, it will give cashback on every transaction to credit card payers. The associate bank will issue the co-brand credit card.
The card will be found on this basis
Customers will be given this card based on their traditional credit score and assessment of their purchasing activities on the Paytm app. In this context, Paytm Lending (the company's loan business) Chief Executive Officer Bhavesh Gupta said that the goal of Paytm is to give credit card benefits to aspiring youth and budding professionals of the country. These cards are designed to help them move towards a healthier financial life.
It will also change the credit card market. The company said that the entire process from the application of this credit card to its issuance will be completed through a digital medium. This will help in adding new credit card users in the digital economy environment.