Paytm collaborates with SBI Card and NPCI to launch RuPay Credit Cards

Cardholders will be able to receive 2% cashback on any purchases made inside the Paytm ecosystem.

On Thursday, Paytm, a service provider of payments and financial services, declared a partnership with SBI Card in order to introduce Paytm SBI Card on the RuPay network.

The National Payments Corporation of India’s RuPay has joined the collaboration between Paytm and SBI Card, which was established in 2020, as the three domestic brands work together to advance the development of inclusive, digital-first financial services in the nation.


According to Vijay Shekhar Sharma, the founder and CEO of Paytm, India is on the verge of the next payment revolution, during which credit will overtake cash as the preferred method of payment.

“Together with SBI Card, Paytm RuPay credit card will be a great choice for consumers. Our users are already savvy on QR code-based payments and with RuPay credit cards working on UPI QR codes, transactions through mobile phones will get a further boost, marking a new era in digital payments,” he stated.

Cardholders of all types are eligible for a 2 percent cashback on all purchases made within the Paytm ecosystem and a 1 percent cashback on all other purchases, with the exception of wallet reloads and fuel purchases.

In the case of “Platinum” cardholders, they would also benefit from a 1 percent fuel surcharge relief and Rs 1,000,000 in cyber fraud insurance coverage.

As a welcome bonus, clients may take advantage of special advantages worth up to Rs. 75,000 with a free Paytm First membership, which also includes access to OTT platforms and flight ticket savings via the Paytm app.When using the Paytm SBI card to purchase movie and travel tickets on the Paytm app, cardholders will receive a 3 percent cashback, a 2 percent reward on all other Paytm app transactions, and a 1 percent cashback on all other purchases.

Bhavesh Gupta, President and Chief Operating Officer, Paytm, stated, “We are delighted to take our valuable partnership with SBI Card to the next level with the launch of our innovative co-branded credit cards powered by the indigenous RuPay network, catering to the ever-evolving needs of India’s youth and professionals.” By integrating ‘new to credit’ consumers into the formal economy through an effortless and rewarding experience, Paytm hopes to transform how credit is used in India with this collaboration, he added.

“We believe this card will emerge as a keystone credit solution for customers. Since NPCI’s launch of credit card services on UPI, we are constantly working towards providing unique, value-based RuPay credit cards. It is exciting to see RuPay progressively establishing itself as a modern, contemporary, and youthful brand by offering customised value propositions backed by cutting-edge technology,”NPCI COO Praveena Rai stated.