Paytm forays into lending, launches first credit card


14 May 2019

Paytm launches first-ever credit card: Here's how you can apply

Online payments giant Paytm has forayed into the credit category with the launch of its first-ever credit card in India.

The card, dubbed 'Paytm First', has been launched in partnership with Citibank and is touted to offer 1% "universal unlimited cashback" on anything you purchase, without any limits.

Here's everything you need to know about the card.


Paytm First card with several benefits

Paytm First card with several benefits

The contactless-enabled Paytm card will be available for online/offline purchases at a fee of Rs. 500 per annum.

It will be similar to other co-branded cards (launched by retailers and airlines). But in this case, Paytm says, users will be able to win promo codes worth upto Rs. 10,000 - if they spend Rs. 10,000 within the first four months of card's issuance.

Fee will be waived if you spend over Rs. 50,000/year

More interestingly, if your spending for the year goes beyond Rs. 50,000 for the year, Paytm says it will waive off the annual charge of Rs. 500 for the user in question.

Love Business news?

Stay updated with the latest happenings.

Yes, notify Me

Added benefits

And, you'll get unlimited cashback, exclusive offers

The Paytm First card will come with exclusive offers on shopping, dining, and travel, and will even work outside India, thanks to Citi and Visa support.

Additionally, every transaction made through the card will be rewarded with 1% cashback, just like Apple Card.

This amount will be auto-credited in your 'Paytm First Card passbook' every month and adjusted against the due balance.

Paytm First Card passbook will also highlight offers

The Paytm First Card will show all the transactions you have made using the credit card, but in addition to this, it will also show the offers running on your card - from both Paytm and Citi. These will be updated in real time.


Anyone can apply for the card

Anyone can apply for the card

Paytm notes that any user of its service can apply for the credit card through its mobile app.

However, the issuance of the card would depend on the digital behavior of the user.

The company has built a unique selection tool with Citi to assess the creditworthiness of people to issue cards; it would work even the user doesn't have a credit history.

Here's what Paytm's Vijay Shekhar Sharma said at card's launch

"Our new offering is designed to bring utmost flexibility to our customers in their digital payment options and will help spur large-ticket cashless payments. We are confident of getting a very good response from our customers."

Share this timeline


Credit Card



Paytm App

Paytm First

Share this timeline

Ask NewsBytes
User Image

Most asked questions

In where I hv to go to apply a Paytm first credit card

What is the eligibility criteria for apply Paytm Credit Card?

How to apply for Paytm Credit Card?

More questions

In where I hv to go to apply a Paytm first credit card

Asked 2019-05-15 19:06:29 by Manoj Arora

Answered by NewsBytes

Paytm says you'll be able to apply for its card through the Paytm app, but as of now that option isn't available.

What is the eligibility criteria for apply Paytm Credit Card?

Asked 2019-05-14 21:23:32 by Srinivas Joga

Answered by NewsBytes

You need to have a Paytm account and app.

How to apply for Paytm Credit Card?

Asked 2019-05-14 20:15:23 by Biman Singh

Answered by NewsBytes

You will be able to apply for the Paytm First card through Paytm app, after being signed into your account.

Next Timeline