Mastercard and Paytm Join Hands to Launch Virtual & Physical Debit Cards

Paytm Payments Bank partnered with Mastercard to issue virtual and physical debit cards. These debit cards will be available to new customers, enabling them to perform secure online transactions, Paytm Payments Bank said in a statement.

Customers will also have an option to request a physical card, enabling them to do contactless in-store transactions supported by Mastercard’s chip-based technology.

Additionally, they will be able to withdraw cash at more than 1 million ATM terminals across most of the world.

“We aim to provide maximum flexibility to our customers to choose their preferred mode of digital payments, and our partnership with Mastercard is in the same direction," said Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank.