Current Affairs

Paytm Payments Bank & NPCI Join Hands for RuPay Debit Card

Paytm Payments Bank has partnered with National Payments Corporation of India (NPCI) to launch RuPay-powered digital debit card.

Paytm Payments Bank & NPCI Join Hands for RuPay Debit Card

Features of The Card

  • Customers will be now able to transact at all merchants who accept payments via debit and credit cards. 
  • Users who have opened their account with the payment bank will be issued the digital debit card. 
  • The The card comes with a free insurance cover up to Rs 2 lakh in the case of death or permanent total disability.
  • Payment bank will not charge on online transactions such as IMPS, NEFT and UPI.
  • For non-metro locations, one gets five free transactions every month and post that, one has to pay Rs 20 on every withdrawal. 
  • For metro areas, one will get three free transactions and after that one has to pay Rs 20 as well. 

Paytm Payments Bank

  • Paytm Payments Bank was launched in May 2017.
  • It offers annual interest of 4 percent for all saving accounts. 
  • The service is available through invite-only basis, and one has to log onto Paytm Payments Bank website to request an invite.
  • The brand is offering a free virtual Rupay debit card, however, if one requires a physical debit card then one has to pay Rs 100 plus delivery charges. 
  • Paytm Payments Bank is offering free online passbook and email statements. However, one need to pay Rs 50 plus delivery charges for physical statements.
Paytm Payments Bank & NPCI Join Hands for RuPay Debit Card Paytm Payments Bank & NPCI Join Hands for RuPay Debit Card Reviewed by insiya yadav on September 15, 2017 Rating: 5

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