SBI Card and Paytm join hands to launch next-generation contactless credit cards in India. These available in two variants – Paytm SBI Card and Paytm SBI Card SELECT. These cards equipped with Tap to Pay feature for seamless, contactless payments and can be used across the Paytm ecosystem, 3rd party platforms & offline retail stores. Both variants are launched on the Visa platform.
Paytm SBI Card users can control their cards through smart one-tap features using their Paytm app itself. These cards will be equipped with instant one-touch services such as blocking and unblocking the card for online transactions, blocking the card in case of loss, issuance of a duplicate card, and viewing outstanding credit-limit.
Users can switch off the card for contactless payments or international transactions when not required. Additionally, the service will also come with a personalized spend analyzer helping in assessing expenses and planning future spends. Paytm users can register for the card from the app in less than 1 minute.
Cardholders will receive a cashback of 5% and 3% on Paytm SBI Card SELECT and Paytm SBI Card respectively, upon booking movie tickets and travel tickets on the Paytm app as well as on purchasing items from Paytm Mall. These cards will be available to customers around Diwali. However, select customers have a chance to apply for Early Access to the card by joining the waitlist that has gone live on the Paytm App from 1st November 2020.
Paytm SBI Card SELECT Benefits
- Welcome Benefit – Complimentary Paytm First Membership and ₹750 Cashback
- Up to 5% Cashback on Paytm App spends and 1% Cashback on spend elsewhere
- Gift Vouchers worth up to ₹6,000 on achieving milestone spends
- Complimentary Priority Pass Membership & Domestic Lounge Access
- Cyber Fraud Insurance cover of ₹2,00,000
- 1% Fuel Surcharge Waiver
Paytm SBI Card Benefits
- Welcome Benefit – Complimentary Paytm First Membership
- Up to 3% Cashback on spends on Paytm App and 1% Cashback on other spends
- Complimentary Paytm First Membership Voucher on card renewal
- 1% Fuel Surcharge Waiver
- Cyber Fraud Insurance cover of ₹1,00,000
Customers can apply for the Paytm SBI Card and Paytm SBI Card SELECT online through the Paytm App. Both the cards can be availed at the annual fee of ₹499 and ₹1,499 respectively. Customers will also have an option to choose from two-color variants on the Paytm App.
How to Apply for Paytm SBI Card
- Log in to your Paytm app.
- Select Show More and tap on the Loans and Credit Card section or search Credit Card in the Paytm Search bar.
- Once the application has been submitted, book for the KYC verification appointment
- Submit the following documents – Photo ID proof copy, Address proof copy, Passport size photograph.
- Post KYC document verification, the applicant will be notified about the card approval or rejection status in 48 hours.
- Once approved, the card will be delivered in the next 5 to 7 business days.
Note: There is no minimum salary requirement. Both salaried & self-employed users can apply for these cards. However, due to high traffic, the applications have been restricted to a limited audience. The minimum age to apply for the card is 18.