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Paytm launches virtual prepaid card

  • Paytm has announced
    its partnership with ICICI Bank, enabling payments at a much wider set of
    merchants through a co-branded virtual prepaid card linked to the user’s Paytm
    Wallet, reported Gadgets360.
  •  
  • Physical cards will
    also be issued to a select set of customers who will be able to use them at any

    • Paytm has announced
      its partnership with ICICI Bank, enabling payments at a much wider set of
      merchants through a co-branded virtual prepaid card linked to the user’s Paytm
      Wallet, reported Gadgets360.
    •  
    • Physical cards will
      also be issued to a select set of customers who will be able to use them at any
      merchant that accepts card-based payments, the company said.
    •  
    • Paytm wallet users
      can also add money to their mobile wallets by making cash deposits at any of
      the 4,000 ICICI Bank branches.
    •  
    • “Through this
      16-digit, Paytm-ICICI Bank co-branded virtual prepaid card, our customers can shop
      at any retail outlet that accepts Visa, MasterCard and Rupay. This move will
      give universal access to our consumers, who can shop at any establishment that
      accepts, credit, debit and prepaid cards,” said Vijay Shekhar Sharma,
      Founder and CEO, Paytm in an emailed statement.
    •  
    • He also added that
      the company was considering bringing this offering to customers through Paytm’s
      Payments bank, which starts operations next year.
    •  
    • Paytm was one of 11
      entities to receive a Payments Bank license in August this year.

     

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