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Paytm Launches Contactless Credit Card: Should You Opt For It?


Digital payments app maker Paytm has expanded its services with the launch of its first credit card. Paytm has launched a contactless co-branded credit card called the 'Paytm First Card.' In a statement, the company said that the card does not have any hidden charges or fees and its distinct feature is that it comes with "unlimited cashbacks". The cashback earned will be auto-credited to the card each month.




  • It comes with an annual fee of Rs 500 which is can be fully waived off on expenses made above Rs 50,000 per year.
  • Transactions can be tracked on the Paytm First Card passbook, which will also highlight exclusive offers from Paytm and Citibank on a real time basis.
  • The card is acceptable for transactions made in India as well as abroad.
  • Customers who spend Rs 10,000 or more within 4 months of the issuance of the card are eligible to avail the cashback of up to Rs 10,000 into their Paytm wallet for payments made under various categories like mobile recharge or bill payment, D2H recharge, electricity bill payment, shopping, etc.

    How to avail a Paytm First Card?

    One can apply for the Paytm First Card on the Paytm app. The credit card will be offered to customers based on their digital behaviour.

    Paytm said it has a selection tool developed jointly with Citibank, that enables it to detect the potential customer base by accessing their credit worthiness.

    Should you opt for Paytm First Card?

    Should you opt for Paytm First Card?

    Despite being a credit card, the rewards on usage of the card differs from a regular bank credit card. The offers and cashbacks are fit for those who are loyal to the app, that is, those who use it extensively for most of their payments.

    Firstly, the cashback is only applicable on payments made using the Paytm app, whereas on a regular credit card one can gain rewards on all payments made on different portals including offline purchases.

    You will be restricted to shop for movie tickets, make bill payments using the app, even if you have alternative offers just to reach the Rs 10,000 spend limit that allows you to avail a cashback.

    Further, you can use a regular credit card to gain points on every transaction, which includes adding money to your Paytm wallet. When you use a Paytm First Card, your rewards are based its usage for specific transactions only (as listed by Paytm).

    Additionally, the cashbacks are given on a monthly basis, wherein you will receive a promocode when you make transactions worth Rs 10,000 or more within the first four months on those specified type of payments using the Paytm app. You can only use the promocode once a month. It can reused in the subsequent month again.

    In case of a regular credit card reward system, customers can avail the benefits once they reach the minimum limit on points so as to redeem them. There is no wait period of one month.

    If you are avid Paytm user, this credit card may be beneficial.

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