SBI partners with Paytm to launch contactless credit card – Times of India

State Bank of India has partnered with digital payments platform Paytm to launch contactless credit cards. The duo has launched two models of the credit cards — Paytm SBI Card and Paytm SBI Card SELECT. Available on the Visa platform, the cards offer smart app features and also provide superior rewards & benefits for its users.
Customers using the newly launched Paytm SBI Card and Paytm SBI Card SELECT can get up to 5% cashback on Paytm while booking movie tickets or making purchases via Paytm Mall. There will be 2% cashback on spends on Paytm app like utility bills, mobile recharge. Additionally, there will be 1% cashback on other online and offline spends. Customers will also get offers on travel tickets as well.
Those interested can register for the card from the Paytm app. It will be available to customers around Diwali. Waitlist, however, has gone live on the Paytm app from November 1. Both the cards can be purchased at an annual fee of Rs 499 and Rs 1,499. Welcome benefits will include complimentary Paytm First membership worth Rs 750 and Rs 750 cashback on first transactions of both Paytm SBI Card SELECT credit card.
Paytm SBI Cards will be equipped with instant one-touch services such as blocking/ 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 also switch off the card for contactless payments or international transactions when the card is not required.
In addition, the new credit card service will come with a personalized spend analyzer to help assess expenses and plan future spends.
Paytm SBI Card SELECT customers will get complimentary Priority Pass Membership for first two card membership years as well as four complimentary domestic airport lounge visits per year. Along with these benefits, the cards also reward loyalty points for their customers. Paytm SBI Card SELECT customers can avail gift vouchers of up to Rs 6,000 annually on achieving certain milestone spends while Paytm SBI Card customers get complimentary Paytm First Membership Voucher upon achieving annual retail spends of Rs 1 lac.
Cardholders will also get 1% fuel surcharge waiver along with cyber fraud insurance cover of Rs 1 lakh and Rs 2 lakh respectively for Paytm SBI Card and Paytm SBI Card SELECT.