- Paytm Payments Bank has launched the Transit Card for metro, rail, bus, and other payments at online and offline stores.
- The card is linked to the Paytm Wallet and can be used for all transactions.
- The transit card is being rolled out initially in collaboration with Hyderabad Metro Rail, Ahmedabad Metro, and the Delhi Airport Express Line.
Paytm Payments Bank has launched the ‘Paytm Transit Card’ that can be used to pay at all metro, bus, rail travel, parking, and other payments at online and offline stores. It empowers the ‘One Nation, One Card’ motto that aims to equip millions of Indians with one physical card for all their everyday needs. It also enables a withdrawal of money from ATMs. Paytm says that users will no longer need to carry multiple cards for different purposes, instead, they can just use Paytm Transit Card for all payments. It also aligns with Paytm Payment Bank’s initiative to bring out products that will make banking and transactions seamless for all Indians.
The Paytm Transit Card rollout is being launched in partnership with Hyderabad Metro Rail. The application process is completely digital and additionally, users can recharge and track all transactions of the card on the Paytm app itself. The physical card will be delivered to the doorstep of the user or can be purchased at designed sales points. The prepaid card is directly linked to the Paytm Wallet and users can top-up the wallet to use the transit card. Users in Hyderabad can now purchase the transit card, which can be displayed at the Automatic Fare Collection gates to proceed with the journey.
Paytm says the service will help over 50 lakh riders who use metro/bus/train services every day with seamless connectivity. The card is live in the Delhi Airport Express line and Ahmedabad Metro. It is the second consumer product in the mass transit category from Paytm Payments Bank after the PPBL FasTags, which apparently is the first in the country to issue 1 crore FasTags. The company says it is also India’s largest acquirer of Toll Plazas for the National Electronic Toll Collection (NETC) program, thereby offering an interoperable nationwide toll payment solution. It is said to have enabled 280 toll plazas across the National & State highways to collect toll charges digitally.