Popular e-commerce giant, Paytm, has partnered with Citibank to launch Paytm credit card, known as the Paytm First Card. The most distinctive feature of this card is that it comes with a 1% universal unlimited cashback facility- auto-credited to the card, every month. Equated Monthly Installment (EMI) options and offers on dining, shopping and travel are some of the exclusive benefits of this card. Additionally, the card uses the Visa network for transactions and will be acceptable in India as well as internationally.
Paytm First Card carries an annual fee of Rs. 500 and does not involve any hidden fees or charges. However, the fee will be waived off if the spending exceeds Rs. 50,000 per year. First Card customers will also receive Paytm promo-codes worth Rs.10,000 if they spend a minimum of Rs.10,000 on the credit card within the first four months of its issuance.
Customers can use the Paytm app to apply for the credit card. The app will also allow them to track offers through the Paytm First Card passbook. Using this, the customers can track their credit card transactions and know exclusive offers from Paytm and Citi on a real-time basis. Vijay Shekhar Sharma, Chairman and CEO of One97 Communication, stated that ‘Our new offering is designed to bring utmost flexibility to our customers in their digital payment options and will help spur large-ticket cashless payments.’
Source: The News Minute