Paytm Payments Bank launches its own mobile app

The app will enable customers to check balance, request for debit cards, access their digital debit cards and get 24/7 support from the bank.

Paytm Payments Bank has launched a separate mobile application for its mobile banking services. Through the app, the bank can provide seamless and secure access to its customers to all basic banking services.

In a note, Paytm Payments Bank said that the app can enable customers to check balance, request for debit cards, access their digital debit cards and find 24/7 support from the bank.

Launched in could 2017, the bank said that it's presently registered over forty three million saving bank customers and has already issued over two million physical debit cards. additionally, virtual debit card has been given to all or any forty three million saving bank customers.

PPBL debit card has intrinsic  security feature of enabling  or disabling it simply by one click within the app to secure against misuse of a debit card by any offender.

“The purpose of a new app is to segregate its operations from the present app that caters to customers of many cluster entities. However, PPBL can still serve its customers on its older app ought to they want thus. each apps can co-exist,” aforesaid Satish Kumar Gupta, chief officer, PPBL.

While the bank offers a forty five rate of interest on savings deposits until Rs one lakh that is permissible by the bank, on extraordinary the limit the surplus gets transferred automatically into a fixed deposit with a partner bank wherever a client will earn up to 8 percent.