Paytm Payments Bank Ltd on weekday proclaimed the launch of Paytm Transit Card, keeping in mind the vision of one nation, one card.
The card can take care of users’ everyday desires — from travel in railroad line, railways, state-owned bus services, toll & parking charges, to payments at offline merchandise stores, on-line shopping and much more. The card conjointly permits withdrawal of cash from ATMs.
“The launch of the transit card is aligned with the bank’s initiatives to bring out merchandise that create banking and transactions seamlessly operable for all Indians,” Paytm Payments Bank aforesaid in a very statement.
It has conjointly created a digital method to use, recharge, and track transactions of the cards on the Paytm App.
The card is going to be delivered at the doorstep of the user or will be purchased at selected stores. The postpaid card is directly joined to the Paytm billfold.
The Paytm Transit Card rollout is being launched together with Hyderabad railroad line Rail. Users in Hyderabad will currently purchase the transit card, which may be displayed at automatic fare assortment gates.
This service can facilitate around 50 lakh riders who use metro/bus/train services almost everyday and experience seamless travel.
The card is already live on the Delhi Airport Express line and Ahmedabad railroad line. With the Paytm Transit Card, individuals will use identical card in railroad lines still as alternative metro stations across the country, as per the release.
Satish Gupta, MD & corporate executive of Paytm Payments Bank, said, “The launch of the Paytm Transit Card can modify countless Indians with the facility of 1 single card that takes care of all transportation and also the banking desires. This can drive money inclusion and accessibility for all. We are glad to be a part of the NCMC initiative and can still work towards the digitisation of the transit scheme within the country whereas driving the adoption of good quality solutions.”
Paytm Transit Card is the bank’s second product within the mass transit category after the success of FASTags. Paytm Payments Bank is the initial bank within the country to attain the milestone of getting issued over one crore FASTags. Besides this, It’s conjointly India’s largest acquirer of toll plazas for the National Electronic Toll Collection (NETC) programme, giving a practical nationwide toll payment resolution.
The bank has enabled over 280 toll plazas across national & state highways to gather toll charges digitally, as per the release.