PayTM is rapidly growing which used to be a wallet but now is a bank. And today, the newly made Paytm payments bank has announced that they are going to start issuing the Visa debit card to their users.
They are expecting to target and issue around 10 million digital debit cards in the financial year, 2020-2021. they have already introduced neo banking in India and is the largest issuer of Rupay debit cards.
The bank is going to issue a virtual debit visa card and it will enable them to make the transactions at all the merchants that are accepting the payments via card. Also, the users will be able to make international transaction through it. Customers can also demand for physical card and it will given to them soon. They have around 57 million digital debit card which is now available in every district of India.
On this, the bank said- As we continue to strive and bring half-a-billion Indians to the mainstream digital economy, it is indeed a proud moment for us to partner with Visa. This partnership will allow millions of our customers to avail the benefits of Visa debit cards along with the power to make international transactions,”