SBI card ties up with Paytm for RuPay card

Paytm has partnered with SBI Card and the NPCI’s RuPay to launch Paytm SBI Card, which can be used to make QR payments on the UPI network.

Speaking at the launch, Paytm founder & CEO Vijay Shekhar Sharma said that the RuPay credit card on UPI solves for distribution as merchants can accept credit card payments using the QR code. This increases the acceptance points to five crores across the country from around 50 lakh.

“Credit card on UPI will help people overcome the mental block over using it for low-value payments,” said Sharma. He added that merchants would have complete flexibility to switch off or on acceptance for transactions over Rs 2,000. Transactions below Rs 2,000 are free of any merchant fees for small merchants.