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Paytm to offer credit card and lending services soon

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India’s digital payments giant Paytm is looking forward to expand its footprint in the banking segment and is soon to offer lending services and credit cards for customers.

Reportedly, Paytm is seeking for a license to set up a money market fund that will enable users to store cash and earn interest.

In this regard, the company has applied to Reserve Bank of India to start the fund and increase its offerings to its over 250 million users.

Recently, the newly-unveiled Paytm Payments Bank is also gearing up to go live on the Unified Payment Interface (UPI) platform by August.

This facility will enable its customers to transact using a virtual payment address issued by the bank. The payments bank will be the most recent one to join the UPI segment, with 50 banks already live on the platform.

Paytm Payments Bank was launched last month and is all set to expand to 31 branches and 3,000 customer service points in the first year of its operation.

India’s digital payments giant Paytm is looking forward to expand its footprint in the banking segment and is soon to offer lending services and credit cards for customers.

Reportedly, Paytm is seeking for a license to set up a money market fund that will enable users to store cash and earn interest.

In this regard, the company has applied to Reserve Bank of India to start the fund and increase its offerings to its over 250 million users.

Recently, The newly-unveiled Paytm Payments Bank is also gearing up to go live on the Unified Payment Interface (UPI) platform by August.

This facility will enable its customers to transact using a virtual payment address issued by the bank. The payments bank will be the most recent one to join the UPI segment, with 50 banks already live on the platform.

Paytm Payments Bank was launched last month and is all set to expand to 31 branches and 3,000 customer service points in the first year of its operation.

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