To provide its users with the best services and experience, Paytm Payments Bank has partnered with Mastercard and will now issue Mastercard Debit Cards to its account holders.
Claiming to have 5.7 crore bank account holders and 30 crore digital wallets, PPBL aims to issue over 10 million digital debit cards in FY 2020-21.
With the help of the Mastercard Debit Cards, account holders can withdraw cash from ATMs, do secure online transactions as well as make payments in stores as well as.
Initially, Paytm Payment Bank Ltd will issue virtual debit cards and soon customers will get a physical card option.
In a statement, PPBL said,
“Paytm Payments Bank Ltd (PPBL) has partnered with Mastercard for the issuance of virtual and physical debit cards. To start with, PPBL will issue Mastercard virtual debit cards to its new customers, enabling them to perform secure online transactions that make everyday purchases faster, easier, and safer.”
PPBL also said, “Soon customers will also have an option to request a physical card, enabling them to do contactless in-store transactions supported by Mastercard’s chip-based technology.”