Paytm partners with NPCI to launch Paytm SBI Card on the RuPay network

Paytm partners with NPCI to launch Paytm SBI Card on the RuPay network

Daily Current Affairs   /   Paytm partners with NPCI to launch Paytm SBI Card on the RuPay network

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Category : Business and economics Published on: May 22 2023

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  • Paytm’s parent company, One97 Communications Ltd, has announced a new partnership with SBI Card and the National Payments Corporation of India (NPCI) to launch the Paytm SBI Card on the RuPay network.
  • This card will provide discounts on transactions made through the Paytm mobile app using the card, with cardholders receiving 3% cashback on booking movie and travel tickets on the Paytm app, 2% cashback on all other purchases on the Paytm app, and 1% cashback on spends made elsewhere.
  • Earlier this year, the Reserve Bank of India (RBI) made it possible for users to link RuPay credit cards to the United Payments Interface (UPI), and NPIC subsequently enabled aggregators such as Paytm, Google Pay, BharatPe, and PayU to facilitate merchant transactions through RuPay credit cards on UPI in India.
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