Paytm and SBI card have joined hands to launch a contactless SBI credit card in two variants which are the Paytm SBI Card and Paytm SBI Card SELECT.
Sbi Card and Paytm have joined hands to launch two new variants of credit cards in India, which are the Paytm SBI Card and Paytm SBI Card SELECT. The product has been launched on the Visa platform.
As per the companies, 'Paytm SBI Cards completely reimagine the credit card experience by enabling smart app features and providing superior rewards & benefits for its users. This launch is in line with SBI Card’s endeavor to offer customers tailored products which bring maximum value in line with spending needs and to encourage digital forms of payments for a safe and enhanced customer experience.'
Paytm SBI Card: Features
Paytm SBI Cards will be equipped with instant one-touch services such as blocking/ unblocking the card for online transactions, blocking the card in case of loss, issuance of a duplicate card and viewing outstanding credit-limit.
Paytm will also offer the option to safeguard users against fraud by switching off the card for contactless payments or international transactions when not required. The service will also come with a personalized spend analyzer helping in assessing expenses and planning future spends smartly. Paytm users can register for the card from the app in less than 1 minute.
Paytm SBI Cards: Rewards and Cashbacks
Paytm SBI Card and Paytm SBI Card SELECT will bring customers rewards and savings upon using the card on the Paytm app as well as millions of online and offline stores. Cardholders receive cashback of 5% and 3% on Paytm SBI Card SELECT and Paytm SBI Card respectively, upon booking movie tickets and travel tickets on Paytm app as well as on purchasing items from Paytm Mall.
For other spends on the Paytm app using the Paytm SBI Cards, cardholders receive 2% cashback while 1% cashback is offered on spends elsewhere.
The cards deliver value from the point of enrolment itself, offering welcome benefits like complimentary Paytm First membership worth Rs 750. Paytm SBI Card SELECT also offers cardholders Rs 750 cashback upon first use.
As per Paytm, 'Paytm SBI Card SELECT customers get complimentary Priority Pass Membership for first two card membership years as well as four complimentary domestic airport lounge visits per year. Along with these benefits, the cards also reward customers for their loyalty through various annual milestone benefits. Paytm SBI Card SELECT customers can avail gift vouchers of up to INR 6000 annually on achieving certain milestone spends while Paytm SBI Card customers get complimentary Paytm First Membership Voucher upon achieving annual retail spends of Rs. 1 lac.
The cardholders also get 1% fuel surcharge waiver along with cyber fraud insurance cover of 1 lac and 2 lacs respectively for Paytm SBI Card and Paytm SBI Card SELECT.
Paytm SBI Card: Availability
The card will be available to customers around Diwali. However, select customers have a chance to apply for Early Access to the card by joining the waitlist that has gone live on the Paytm App from 1st Nov.
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