Paytm Payments Bank partners with Mastercard

NEW DELHI: Paytm Payments Bank had entered into a partnership with MasterCard for the issuance of virtual and physical debit cards. The company has announced that it will issue MasterCard virtual debit card to new customers so that they are able to perform secure online transactions.
After this, customers will also be able to request a physical card allowing then to do contactless in-store transactions. Along with this, the customers will also be able to withdraw cash at more than 1 million ATM terminals.
In an official statement, Satish Kumar Gupta, CEO & MD, Paytm Payments Bank Ltd said, “We continue to play a leading role in spreading the digital payments network in the country. We aim to provide maximum flexibility to our customers to choose their preferred mode of digital payments, and our partnership with Mastercard is in the same direction.”
In order to help the customers, recently, Paytm revamped its app UI with a ‘Stay at home Essential payments’. The platform has streamlined payments such as mobile & DTH recharge, electricity, water, gas, credit card, insurance premium among others.