● 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.
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