India’s largest Hyperlocal fintech startup, PayNearby Technologies Pvt. Ltd., in collaboration with YES Bank and National Payments Corporation of India (NPCI) launched the “PayNearby shopping card” powered by RuPay for its retail partners to provide maximum benefits of e-commerce in a risk-free mode over mass market category.
- The maximum wallet balance of the card is upto 1 Lakh and can be used for transactions upto Rs. 5 lakh monthly and Rs. 25 lakhs annually.
- Among its features, the user can lock/unlock the card digitally and can also get a summary of the transaction statement to keep their spending under check.
Key Points:
–The card is enabled across 10 lakh plus PayNearby retail touch points, across 17,000 plus PIN (Postal Index Number) codes in the country.
–The retailers can get the card by completing the KYC (Know Your Customer) to avail services such as e-learning, e-commerce, online gaming, monthly recharges and utility payments, online music, and videos.
Recent Related News:
i.On October 12, 2020 Axis Bank Limited in collaboration with Google Pay and Visa launched its ACE Credit Card in India. The card is designed to increase participation of users in the digital economy.
ii.On October 6, 2020 Axis Bank Ltd in partnership with Vistara, India’s full service carrier launched a Co-Branded Forex Card, ‘Axis Bank Club Vistara Forex Card’ to cater the needs of international travellers. This is the 1st-ever collaboration by a bank and an Indian airline for a co-branded forex card. The
About PayNearby Technologies Pvt. Ltd:
It is a Department for Promotion of Industry and Internal Trade (DPIIT) Certified Fintech Company registered under The Startup India program of Government of India (GoI).
Establishment– 2016
Managing Director (MD) & Chief Executive Officer (CEO)– Anand Kumar Bajaj
Headquarter– Mumbai, Maharashtra
Yes Bank:
Managing Director (MD) & Chief Executive Officer (CEO)– Prashant Kumar
Headquarter– Mumbai, Maharashtra
Tagline– Experience our expertise
