Paytm Payments Bank has partnered with Visa, a global payments major, for using its card issuing and payments network. The Indian e-wallets provider is now in talks to start issuing Visa-branded debit cards to its customers.
Alfred F. Kelly, CEO of Visa, said, “We are working with Paytm Payments Bank to offer our debit credential solutions to enhance their offerings to their rapidly expanding customer base.”
Through this partnership, Visa could leverage Paytm’s plans to grow the card payments market in India and benefit in the long run.
TR Ramachandran, Visa’s group country manager for India and South Asia, stated, “Paytm Payments Bank has formally joined the Visa network as a member and will soon be able to issue Visa cards in the market.”
“Separately, in line with our combined strategy to expand the contactless card acceptance network in India, Paytm is also in the process of enabling merchants on the Paytm network to start accepting contactless card payments,” he added.
