Paytm Payments Bank
Paytm Payments Bank launches ‘Paytm Transit Card’ — Indians can pay for all metro, bus and rail travel, parking, payments at online & offline stores and more with one card
- Offers the NCMC inter-operable physical mobility card, which drives the government’s One Nation, One Card initiative, bringing convenience to millions of Indians
- Having established leadership in the FASTag category, the
- The card linked to the Paytm Wallet can be used for all transactions of a user — from travel in metros, buses and trains, to pay toll and parking charges, payment at offline and online stores to even withdrawal of cash from ATMs.
- Users can simply top up the Paytm Wallet account to use the card and do not need to maintain any separate account.
- First phase of rollout is being launched in collaboration with Hyderabad Metro Rail, Ahmedabad Metro and the Delhi Airport Express Line, where users can leverage the power of seamless transactions
Mumbai, 29th November 2021: Paytm Payments Bank Limited (PPBL), which is India’s homegrown payments bank, has today announced the launch of the Paytm Transit Card, bringing together the power of One Nation, One Card. The Bank aims to equip millions of Indians with one physical card for all their everyday needs — from travel in metro, railways, state-owned bus services, toll & parking charges to payments at offline merchant stores, online shopping and more. The card also enables the withdrawal of money from ATMs. With this launch, users won’t have to worry about carrying multiple cards for different purposes and just use the Paytm Transit Card for all their payments.
The launch of the Transit Card is aligned with the Bank’s initiatives to bring out products that make banking and transactions seamlessly operable for all Indians. With the Bank’s robust technology and vast user base, PPBL will enable large-scale adoption of the ‘Paytm Transit Card’ that would help promote NCMC and the Digital India initiative further.
It has also created a completely digital process to apply, recharge & track all transactions of the cards on the Paytm App itself. The physical card will be delivered at the doorstep of the user or can be purchased at designated sales points. The prepaid card is directly linked to the Paytm Wallet, where users can just top-up the wallet to use the transit card and do not need to create any separate account.
The Paytm Transit Card rollout is being launched in collaboration with Hyderabad Metro Rail. Users in Hyderabad can now simply purchase the transit card, which can be displayed at the Automatic Fare Collection (AFC) gates to proceed for the journey. This service will help over 50 lakh riders who use metro/bus/train services every day and experience seamless connectivity. The card is already live in the Delhi Airport Express line and Ahmedabad Metro. With the Paytm Transit Card, people can use the same card in metros as well as other metro stations across the country.
Satish Gupta, MD & CEO of Paytm Payments Bank Ltd said, “The launch of the Paytm Transit Card will enable millions of Indians with the power of one single card that takes care of all transportation as well as banking needs. This will drive financial inclusion and accessibility for all. We are glad to be a part of the NCMC initiative and will continue to work towards the digitization of the transit ecosystem in the country while driving the adoption of smart mobility solutions.”
Paytm Transit Card is the bank’s second product in the mass transit category after the success of PPBL FASTags. Paytm Payments Bank is the first bank in the country to achieve the milestone of issuing more than 1 crore FASTags. Besides this, It is also India’s largest acquirer of Toll Plazas for the National Electronic Toll Collection (NETC) program offering an interoperable nationwide toll payment solution.
The bank has enabled over 280 toll plazas across the National & State highways to collect toll charges digitally.