Added on : 2019-05-14 18:29:34
Paytm has tied up with Citi to launch a credit card, called the Paytm First Card. The new credit card is touted to offer one percent "universal unlimited cashback" to customers along with no restrictions on earning categories. While the Paytm First Card comes with an annual fee of Rs. 500, the fee is claimed to be waived if the spends exceed Rs. 50,000 per year. The Paytm First Card is similar to co-branded credit cards that retailers and airlines offer. The card will also offer Paytm promo codes worth Rs. 10,000 on spending a minimum amount of Rs. 10,000.
The card will be accepted internationally and is contactless-enabled. Paytm said it will also offer an equated monthly installment (EMI) option on purchases made on the card.
Vijay Shekhar Sharma, chairman and CEO of One97 Communication said, "Our new offering is designed to bring the utmost flexibility to our customers in their digital payment options and will help spur large-ticket cashless payments."