Digital payments major, Paytm, has launched a ‘transit card’ through its payments bank subsidiary for metro, bus, rail, and parking payments. The company said that the first phase of rollout is being launched in collaboration with Hyderabad Metro Rail, Ahmedabad Metro and the Delhi Airport Express Line, where users can leverage the power of seamless transactions. Under the initiative, the company said that it offers the National Common Mobility Card (NCMC) interoperable physical mobility card, which drives the government’s One Nation, One Card initiative.
The company said that the card linked to the Paytm Wallet can be used for all transactions — from travel in metros, buses and trains, to pay toll and parking charges, payment at offline and online stores to even withdrawal of cash from ATMs.
It has also created a completely digital process to apply, recharge, and track all transactions of the cards on the Paytm app itself. The physical card will be delivered at the doorstep of the user or can be purchased at designated sales points. The prepaid card is directly linked to the Paytm Wallet, where users can just top-up the wallet to use the transit card and do not need to create any separate account, according to an official statement.
“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. We are glad to be a part of the NCMC initiative and will continue to work towards the digitisation of the transit ecosystem in the country while driving the adoption of smart mobility solutions,” Satish Gupta, MD & CEO of Paytm Payments Bank Ltd said.
The fintech firm said that the Paytm Transit Card rollout is being launched in collaboration with Hyderabad Metro Rail. Users in Hyderabad can now simply purchase the transit card, which can be displayed at the Automatic Fare Collection (AFC) gates to proceed for the journey. This service will help over 50 lakh riders who use metro/bus/train services every day and experience seamless connectivity. The card is already live in the Delhi Airport Express line and Ahmedabad Metro. With the Paytm Transit Card, people can use the same card in metros as well as other metro stations across the country.
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