Paytm Bank soon launch Visa Debit cards

Paytm Bank soon launch Visa Debit cards

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Paytm Payments Bank soon launch Visa Debit card:

Visa could leverage Paytm’s plans to grow the card payments market in India through this partnership and benefit in the long run

Global payments major Visa has enrolled Paytm Payments Bank into its card issuing and payments network, and the Indian e-wallets provider is in talks to start issuing Visa-branded debit cards as well.

Alfred F. Kelly, the chief executive officer of Visa shared news of the partnership with Paytm in a recent call with analysts.

“We are working with Paytm Payments Bank to offer our debit credential solutions to enhance their offerings to their rapidly expanding customer base,” Kelly said. Visa could leverage Paytm’s plans to grow the card payments market in India through this partnership and benefit in the long run, he said.

“PayTM Payments Bank has formally joined the Visa network as a member and will soon be able to issue Visa cards in the market,” said T R Ramachandran, Visa’s group country manager for India and South Asia. “Separately, in line with our combined strategy to expand the contactless card acceptance network in India, PayTM is also in the process of enabling merchants on the PayTM network to start accepting contactless card payments.”

https://i.imgur.com/7ChQw1J.jpg

Paytm Bank has been offering digital debit cards to all those who had opened accounts, but physical cards were issued only on the specific request of customers. The bank, one of the seven operational payment banks licensed by the Reserve Bank of India, was only issuing RuPay debit cards till date.

Paytm did not comment on its partnership with Visa, but said it would continue to issue RuPay cards.

“Paytm Payments Bank will continue to issue RuPay cards as well to our customers. our partnership with NPCI is strong and will continue to grow in the time to come,” said the bank’s spokesperson. Currently, the bank has 44 million virtual savings accounts.

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Since 6 of the other payment banks already issue visa, this is nothing and basically useless other than to force people to use it like payzap does. Do they want to lose money to visa for transaciton charges? Boggles the mind. Unless they plan to charge people to use their wallet with the excuse it is a card service.

I would prefer RuPay gets more coverage and acceptance.

PayPal says RuPay cards not accepted. Do you know if this is only some rupay cards or do they still not take rupay cards?

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alienteck wrote:

Since 6 of the other payment banks already issue visa, this is nothing and basically useless other than to force people to use it like payzap does. Do they want to lose money to visa for transaciton charges? Boggles the mind. Unless they plan to charge people to use their wallet with the excuse it is a card service.

I would prefer RuPay gets more coverage and acceptance.

PayPal says RuPay cards not accepted. Do you know if this is only some rupay cards or do they still not take rupay cards?

Payzapp support RuPay cards. I used only RuPay cards on payzapp. only payzapp In-app transaction not support RuPay cards (earlier version supported In-app transaction RuPay cards but now new update stopped working, only payzapp wallet load money support RuPay cards).

which payment banks issue visa card ?

All payment banks issue RuPay cards except Airtel payment bank issue mastercard.

Paypal currently accept only RuPay International cards for International transaction only.

Paypal customer care said: Our team is working on that, soon we will get the update regarding the Rupay card update.

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RuPay card launch Ecommerce transaction 4 years ago, (year 2015 RuPay card launch Ecommerce transaction) & Visa card launch 61 years ago, (first visa card online Ecommerce transaction launch year 1994).

china’s UnionPay card launch on year 2002 but Paypal accept china’s UnionPay card on 2010 & Paypal allow UnionPay card Internationally acceptance after 2016.

so, atleast RuPay card need minimum 10 years time or max 15 years time to acceptance everywhere in India & also maybe Internationally.

NPCI’s COO said RuPay card is currently new born baby. it will take time to accept everywhere.

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alienteck wrote:

Since 6 of the other payment banks already issue visa, this is nothing and basically useless other than to force people to use it like payzap does. Do they want to lose money to visa for transaciton charges? Boggles the mind. Unless they plan to charge people to use their wallet with the excuse it is a card service.

I would prefer RuPay gets more coverage and acceptance.

PayPal says RuPay cards not accepted. Do you know if this is only some rupay cards or do they still not take rupay cards?

Paypal does take rupay but not paytm rupay you need an rupay card on which international transactions are enabled than add your rupay card as a discover card and it should work, paypal would do a $1 transaction on this card to verify it instead of standard ₹2

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tank_u_m8 wrote:

Paypal does take rupay but not paytm rupay you need an rupay card on which international transactions are enabled than add your rupay card as a discover card and it should work, paypal would do a $1 transaction on this card to verify it instead of standard ₹2

Paypal refund $1 transaction verification.

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