Issued by Citi, this is an offering by Paytm—India’s largest digital payments platform and one of the largest digital goods and mobile commerce platforms in the country.

Paytm First Card’s combination of offerings include

Unlimited 1 percent cashback, without restrictions, auto-credited to card every month
No hidden fees or charges
Accepted in India and internationally
Contactless enabled
Full waiver of annual fee of INR 500 on spends exceeding INR 50,000 per year
Attractive Equated Monthly Installment (EMI) options
Exclusive offers on dining, shopping, travel, amongst others, on the globally acclaimed Citi Privileges platform

Paytm customers can apply for the credit card on their Paytm app, where they will also be able to conveniently track offers through the Paytm First Card passbook. Paytm First Card customers will be awarded Paytm promo-codes worth INR 10,000 on spending a minimum of INR 10,000 on the credit card within the first four months of issuance. The Paytm First Card passbook not only allows customers to track their credit card transactions but also highlights exclusive offers, both from Patym and Citi, on a real-time basis.

Vijay Shekhar Sharma, Chairman & CEO, One97 Communications, the parent of Paytm, said, “We are delighted to partner with Citi to launch the Paytm First Card. Our new offering is designed to bring utmost flexibility to our customers in their digital payment options and will help spur large-ticket cashless payments. We are confident of getting a very good response from our customers.”

One97 Communications started as a Citi Commercial Banking client in 2009. To support the firm’s growing ambitions, Citi was an advisor on the initial investment by Ant Financial in February 2015 and the subsequent strategic investment by Alibaba Group and Ant Financial Services Group in 2016. In November 2016, Paytm wallet was integrated with Citibank online and mobile app to make it convenient for Citi’s customers, fast adopting paytm wallet, to top it up online. Citi and Paytm have subsequently, and periodically, built exclusive offerings for Citi debit and credit card customers, such as cashback on movie tickets booked on the Paytm app.

“Paytm First Card gives us the opportunity to extend our expertise in credit card services to a new all-digital consumer base,” said Stephen Bird, CEO, Global Consumer Banking, Citi. “What began as an institutional relationship for Citi has grown into a stronger and deeper partnership across the Citi franchise. Today’s announcement affirms how Citi is establishing itself globally as the partner of choice to accelerate growth for our partners, customers, and business.”

Paytm will identify the potential base using a selection tool, jointly developed by Citi and Paytm, to assess credit worthiness. This provides an innovative alternative to underwrite customers, who otherwise may or may not have a credit history.

“The introduction of Paytm First Card is reflective of Citi’s commitment to partner with leading brands and to expand India’s digital ecosystem. Integrating the Citi service experience within a Paytm proposition will build engagement, thereby driving usage,” said Shinjini Kumar Country Business Manager, Global Consumer Bank, Citibank India. “Citi continues to build innovative solutions that drive healthy spends—and as a result, Citi’s credit card customers use their cards twice as often as the industry’s average, leading to a spend per card that is 1.4 times the industry average.”