Paytm Unveils India’s First Unlimited Cashback Credit Card – Find Out All The Benefits You Can Get Here
Together with Citi, Paytm launched its own cashback credit card called Paytm First Card, which offers unlimited cashback and no restrictions on categories of earnings. Paytm customers can apply for the credit card from their Paytm app, where they can also easily track offers through the Paytm First Card passbook. Not only that, the Paytm passbook allows customers to track their credit card transactions, but also highlights exclusive offers, both from Patym and Citi in real time. In addition, customers will receive Paytm promotional codes worth Rs 10,000 for a minimum spend of Rs 10,000 on the credit card in the first four months after issuance.
Commenting on the launch, Shekhar Sharma, President and CEO of One97 Communications, the parent company of Paytm, said, “We are delighted to partner with Citi to launch the Paytm First Card. Our new offering is designed to provide our customers with the greatest flexibility in their digital payment options and will help drive cashless large bill payments. We are confident to get a very good response from our customers.
“Paytm First Card gives us the opportunity to extend our expertise in credit card services to a new, fully digital consumer base,” said Stephen Bird, CEO, Global Consumer Banking, Citi. “What started as an institutional relationship for Citi has grown into a stronger and deeper partnership through the Citi franchise. Today’s announcement confirms how Citi is establishing itself globally as the partner of choice to accelerate the growth of our partners, customers and businesses.
Here is a list of the benefits that Paytm First Card will offer to its customers:
– Unlimited 1% cashback, without restrictions, automatically credited to the card every month
-No hidden fees or charges
-Accepted in India and internationally
– Contactless activated
-Total waiver of the annual fee of INR 500 on expenses exceeding INR 50,000 per year
– Attractive Equivalent Monthly Payment (EMI) options
-Exclusive offers on catering, shopping, travel, among others on the world-renowned Citi Privileges platform
Paytm will identify the potential base using a screening tool, jointly developed by Citi and Paytm, to assess creditworthiness. This is an innovative alternative for underwriting customers, who may or may not otherwise have a credit history.