Paytm Payment Bank Introduces Paytm Transit Card,it can be used to pay for all metro, bus, train travel, parking, and other payments at online and offline stores.
It reinforces the motto of ‘One Nation, One Card’ which aims to equip millions of Indians with a physical card for all their daily needs. It also helps in withdrawing money from ATMs. Paytm says that users will no longer have to hold multiple cards for different purposes, instead they can use the Paytm Transit card for all payments. It also aligns with Paytm Payment Bank’s initiative to bring out products that will make banking and transactions seamless for all Indians.
The Paytm Transit Card is being launched in association with Hyderabad Metro Rail. The application process is fully digital, and users can recharge and track all card transactions within the Paytm app itself.
The prepaid card is directly linked to the Paytm wallet, and users can top-up the wallet to use the transit card.Users in Hyderabad can now purchase a transit card and display it at the automatic fair collection gates to continue their journey.
PDM says the service will help more than 50 lakh riders who use Metro / Bus / Train services daily with uninterrupted connectivity. The card is available live on the Delhi Airport Express Line and the Ahmedabad Metro. It is the second mass transit product from the Paytm Payment Bank after the PPBL fast tags, and apparently the first in the country to offer over 1 crore fast tags.
The company says it is also the largest acquirer of toll plazas in India for the National Electronic Toll Collection (NETC) program, thereby offering a nationwide toll payment solution. It is said to have enabled 280 toll plazas across national and state highways to collect tolls digitally.
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