Paytm Payments Bank has launched an all-in-one Paytm Transit Card in partnership with Mumbai Metro One Private Limited to make paying for travel and shopping easy. You can use the Paytm Transit Card to pay for your travel on metro trains, buses, and trains, but this card also lets you pay at online and offline shops. Also Read - RBI to set audit guidelines for Paytm Payments Bank: Report
Applying for the Paytm Transit Card involves a simple process and can be done from the Paytm app. While anyone can use the Paytm Transit Card, it would make more sense for Mumbai residents since it can be used for seamless payments at Mumbai Metro. The card will be issued virtually in the Paytm app but if you want a physical version, you can order it from the app or buy it from designated sales points for a fee. The card would also let you pay parking charges and toll taxes, in line with the government’s NCMC (National Common Mobility Card) project. Also Read - Paytm Payments Bank banned from onboarding new customers
The transactions that you make using the Paytm Transit Card will be automatically logged into the Paytm app and the prepaid card will be linked to the Paytm Wallet. The card will need to be recharged before use through the Paytm app through the same account.
The Paytm Transit Card is the second product in Paytm Payments Bank’s mass transit category. The first one was FASTags, which Paytm said has already sold over 1 crore units since the launch in 2021. The company claimed it is India’s largest acquirer of toll plazas for the National Electronic Toll Collection (NETC).
“We are delighted to partner with Mumbai Metro One Private Limited for the launch of the Paytm Transit Card in the city. The all-in-one NCMC card will add unparalleled convenience to the lives of Mumbaikars who will be able to use it for all their daily travel needs,” said a Paytm Payments Bank spokesperson.