Paytm Payments Bank Ltd. (PPBL) is launching an all-in-one transit card that Indians can use to pay for buses, trains, tolls, parking and other transit and travel expenses. The initial rollout is in conjunction with Hyderabad Metro Rail, Ahmedabad Metro and the Delhi Airport Express Line.
The Paytm Transit Card can be linked to the Paytm Wallet, which can be used for numerous transactions in any given day — online payments, in-store purchases, ATM cash withdrawals. The card’s unveiling is in line with the Indian government’s push of the National Common Mobility Card (NCMC), an inter-operable physical mobility card that is the driving force behind the government’s One Nation, One Card initiative.
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PPBL is striving to ensure that millions of Indian citizens have one physical card for their day-to-day expenses, which removes the need for people to carry multiple cards for different uses. With the Paytm Transit Card, users can pay for transit and parking, goods and services, get cash from an ATM, and more.
“The launch of the Paytm Transit Card will enable millions of Indians with the power of one single card that takes care of all transportation as well as banking needs. This will drive financial inclusion and accessibility for all,” said Satish Gupta, managing director and CEO of Paytm.
Gupta added that as part of the NCMC initiative, PPBL will continue working “towards the digitization of the transit ecosystem” in India while promoting the use of smart mobility solutions.
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The rollout of PPBL’s Paytm Transit Card is part of the company’s plans to introduce products that make banking and related transactions seamless for all Indians. The bank is planning widespread adoption of the transit card, which will help drive the advancement of NCMC and the Digital India initiative.
Paytm Transit Card is PPBL’s second mass transit product following a product that works with FASTags, India’s electronic toll collection system.
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