Paytm Bank to issue 10 mn Visa virtual debit cards to customers by 2020-21

Paytm Payments Bank Ltd announced on Wednesday it will now start issuing Visa virtual debit cards to its customers.

PPBL said it is targeting to issue over 10 million new digital debit cards in 2020-21.

The bank said in a statement it is already the largest issuer of RuPay debit cards and has the "fastest growing" bank account base.

Visa virtual debit cards would enable its customers to transact at all merchants accepting payments through cards.

For the first time, the bank's customers would also be able to make international transactions using their Visa debit cards, it said.

Soon, the customers will also have an option to request for a physical card.

This will enable customers to make contactless payment through their chip-inserted cards.