Paytm is in talks with various banks to launch co-branded cards BANK NEWS

Paytm is in talks with the various banks to issue over two million new cards in the next 18 months, the company is pushing towards into the credit card issuance and management business.

 

Paytm is in talks with various banks to launch co-branded cards
Paytm Logo (PSU Connect)

 

Paytm an Indian e-commerce payment system and fintech company is planning to launch its co-branded cards. Paytm is in talks with the various banks to issue over two million new cards in the next 18 months, the company is pushing towards into the credit card issuance and management business.

 

 

There is no doubt that the popular digital payment application is ready to set fire by giving finances linked credit cards to their customers along with various digital services.

 

 

The company mentioned that the main aim is to transform the credit market by enabling "new to credit" users to join the digital economy.

 

Bhavesh Gupta the CEO of Paytm Lending said, "In our country, credit cards are still considered a product for the affluent sections of the society and not everyone can avail of its benefits. At Paytm, our aim is to provide credit cards that benefit India's aspiring youth and evolved professionals."

 

"These cards are designed to help them lead a healthier financial life through managing and analysing spends to make well-informed decisions. This can transform the credit market by bringing 'new to credit' users into the formal economy,” he added.



Posted Date :  19-10-20

Categories : BANK NEWS

Tag Cloud: BANK NEWS

Similar news

SBI's Padmakumar M Nair will be chief executive of NARCL

New Delhi: Padmakumar M Nair of State Bank of India (SBI) will be the chief executive of National Asset Reconstruction Company (NARCL), a proposed entity for taking over bad loans of lenders, predominantly public sector banks. NARC, also called a 'bad' bank, is expected to be operational in June 202
Posted Date :  12-05-21

Read more

Regulations Review Authority of RBI sets up advisory group

New Delhi: The Regulations Review Authority of the Reserve Bank of India (RBI) has constituted an advisory group to support it.   The group will assist the RRA by identifying areas, regulations, guidelines and returns which can be rationalised and submit reports periodically to the RRA co
Posted Date :  08-05-21

Read more

PSU Banks to take lead in creation of bad bank: SBI MD

New Delhi: State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India Managing Director Swaminathan J said on Thursday. If all lenders come on board, the National
Posted Date :  07-05-21

Read more