Paytm Transit Card launched; pay for online shopping, metro and bus rides with one card
- Paytm Transit Card can be used for all payment purposes.
Paytm Payments Bank has launched the Paytm Transit Card to make payments for online shopping and offline store purchases, as well as all metro, bus and rail travel, parking and more. This is part of the trend to move towards One Nation, One Card system and boost Digital India initiative. The card also enables withdrawal of money from ATMs. The biggest benefit of this card is that users won't have to carry multiple cards for different purposes as the Paytm Transit Card can be used for all payment purposes.
The process to apply, recharge and track all transactions of the card can be done online on the Paytm App itself. The physical card will be delivered at the doorstep of the user or can be purchased at designated sales points. The prepaid card is directly linked to the Paytm Wallet, where users can just top-up the wallet to use the transit card and do not need to create any separate account.
The Paytm Transit Card rollout is being launched in collaboration with Hyderabad Metro Rail. Users in Hyderabad can now purchase the transit card, which can be displayed at the Automatic Fare Collection (AFC) gates to proceed for the journey. This service will help over 50 lakh riders who use metro/bus/train services every day.
The Paytm Transit Card is already live on the Delhi Airport Express line and Ahmedabad Metro. Paytm Transit Card can be used across metro stations in the country.
Satish Gupta, MD & CEO of Paytm Payments Bank said, “The launch of the Paytm Transit Card will enable millions of Indians with the power of one single card that takes care of all transportation as well as banking needs. This will drive financial inclusion and accessibility for all.”
Paytm Transit Card is the bank's second product in the mass transit category after PPBL FASTags.
Highlights of Paytm Transit Card:
● Offers the NCMC inter-operable physical mobility card, which drives the government's One Nation, One Card initiative, bringing convenience to millions of Indians
● The card linked to the Paytm Wallet can be used for all transactions of a user — from travel in metros, buses and trains, to pay toll and parking charges, payment at offline and online stores to withdrawal of cash from ATMs.
● Users can top up the Paytm Wallet account to use the card and do not need to maintain any separate account.
● First phase of rollout is being launched in collaboration with Hyderabad Metro Rail, Ahmedabad Metro and the Delhi Airport Express Line