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Paytm Partners with SBI Card and Visa to Launch Contactless Co-Branded Credit Cards in 2 Variants 

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SBI Card partners with Paytm to launch Paytm SBI CardOn November 4, 2020 SBI Card and Payment Services ltd.(SBI Cards) partnered with Paytm and Visa to launch contactless co-branded credit cards, India’s next generation credit cards. The credit card will be available in two variants, namely,  Paytm SBI Card and Paytm SBI Card SELECT. The 2 variants have been designed for the new age, digitally savvy customers. The product has been launched on the Visa platform.

Aim of the Partnership– To bring in ‘new to credit’ users into the formal economy and empower them to control their finances.


  • This is the 2nd co-branded credit card product from Paytm.
  • Paytm’s 1st co-branded credit card, called ‘Paytm First Card’ was launched in collaboration with Citibank.

About the Launch:

This launch is in accordance with the SBI card’s efforts to offer customers tailored products that bring utmost value in line with spending needs and also to encourage digital forms of payments for a safe and enhanced customer experience.

Key Info:

Control smart one tap features

The Paytm SBI cardholders will be enabled to control their smart one tap features that are available on SBI Card mobile app & Paytm app. Paytm SBI Card Variants is equipped with Instant one-touch services like blocking/ unblocking the card for online transactions, etc.,

Switch off the card

Users have the option to switch off the card for contactless payments or international transactions, when it is not required, this will safeguard them against fraud.

Personalized spend analyser

The Paytm App is equipped with a personalized spend analyser that helps to assess the expenses and also to plan for future spending.

Highlights of Paytm SBI Card SELECT and Paytm SBI Card:

Annual Fee& Register

  • Paytm users can register for these cards through the Paytm app in less than a minute.
  • The Paytm SBI Card can be availed at Rs 449 for a year and Paytm SBI Card SELECT at Rs 1499 for a year.

Welcome Benefit

  • Upon first time use both the cards offer Complimentary Paytm First Membership.
  • The Paytm SBI Card SELECT also offers cardholders Rs 750 cashback upon first use.


  • On booking movie and travel tickets  on Paytm app and on purchase of items from Paytm Mall, the cardholders will receive 5%  and 3% on Paytm SBI Card SELECT and Paytm SBI Card respectively.
  • The cardholders will also receive 2% cashback for other spends on Paytm app using the Paytm SBI Cards and 1% cashback is offered on spends elsewhere.

Fuel Surcharge Waiver

Both the cards offer 1% fuel surcharge waiver.

Cyber fraud insurance cover

The cardholders will get Cyber fraud insurance cover of 1 lakh and 2 lakh respectively for Paytm SBI Card and Paytm SBI Card SELECT.

Note– Customers have an option to choose from two-color variants on the Paytm App.

Additional Info:

By joining the waitlist that has gone live on the Paytm App from November 2020, the select customers have a chance to apply for early access to the card.


In October 2020, Paytm announced that it will introduce 2 million co-branded credit cards for consumers in India in the next 12–18 months, in partnership with various credit card issuers.

Recent Related News:

On October 13, 2020 In order to make shopping at IKEA, home furnishing company more affordable, convenient and rewarding, it has launched ‘IKEA Family Credit Card by Citi’, in partnership with Citibank India (Citi) and Mastercard. This card is IKEA’s first co-branded card in India.

About SBI Cards & Payment Services Ltd (SBI Cards):
Headquarters– Gurgaon, Haryana
Managing Director(MD) and Chief Executive Officer(CEO)–  Ashwini Kumar Tewari
Founded- October 1998

About Paytm:
Headquarters– Noida, Uttar Pradesh
Founder & CEO– Vijay Shekhar Sharma
Founded– August 2010