One97 Communications Limited, that owns the brand Paytm, India’s largest digital payments company, announced its partnership with Visa (a global payments technology company) on Friday morning.
One97 Communications Limited, that owns the brand Paytm, India’s largest digital payments company, announced its partnership with Visa (a global payments technology company) on Friday morning. The partnership will allow Paytm customers to make Visa credit card payments across Banks through the Paytm App. “We are glad to announce our partnership with Visa to make Visa credit card payments across Banks on the Paytm app. VISA Credit Card users can now pay their monthly bills at any time, anywhere using their preferred payment method including UPI, net banking and debit cards,” the company said in a blog spot.
Kiran Vasireddy, COO – Paytm said the company is delighted to partner with Visa as it will benefit millions of credit card users in India. “We are delighted to partner with Visa in enabling seamless credit card bill payments on Paytm. This will benefit millions of credit card users across the country,” Reddy said.
Paytm has also integrated BHIM UPI as a source of pulling funds for the customer to pay for credit card bill payments thereby adding an important use-case for Paytm BHIM UPI. With this move, the company aims to process over 2 million credit card bill payments this financial year.
“We have also integrated Paytm BHIM UPI to enable users to pay for their bills, along with other payment methods like debit card, net-banking. These new payment modes will go a long way in offering great convenience to the Visa credit card users as they can now pay their monthly bills on the Paytm app,” Reddy added.
The Paytm app now shows an option which says – ‘credit cards’. To make the payment, the users need to tap on it, enter their card details and complete the payment. As of now, the company offers Visa credit card bill payments for over 38 banks.
“With Visa credit card bill payments now enabled on Paytm, it effectively marks the complete digital transformation of the credit card ecosystem. From issuance to purchases and now bill payment, the Visa credit card is now truly a preferred digital payment tool for India’s mobile-first generation,” said Murali Nair, Head of Business Development, Visa India.