IDFC FIRST Bank has collaborated with the National Payments Corporation of India (NPCI) to introduce FIRSTAP, the country’s first sticker-based debit card.
The card is designed to make transactions easier by just tapping the sticker on a point-of-sale terminal that supports Near Field Communication (NFC). Due to the sticker-based Debit Card’s smaller size than a typical debit card, it can be applied to many different items and devices, greatly enhancing customer convenience.
Sumit Madan, Head – Retail Liabilities and Branch Banking, IDFC FIRST Bank said, “The launch of Sticker-based Debit Card is in line with the Bank’s customer centric philosophy. The number of transactions being carried out via contactless cards are growing fast. As a customer-first bank, we are committed to using contactless technology for frictionless digital transactions. With Sticker as the form factor in the wearable category, the debit card is convenient to carry around and enables fast check-out. There are multiple use cases for this form factor, and we are very confident of the uptake.”
The Sticker-based Debit Card can be attached to any surface of the customer’s choice, including AirPods cases, wallets, tabs, ID cards, and smartphones. The object has a tap-and-pay feature that eliminates the need to carry a debit card, work with wearables like watches and rings, or require a UPI PIN after scanning a QR code. The touch-free method of payment allows for payments in seconds for transactions up to INR 5,000 without a PIN, and for transactions above that, with a tap and PIN. This IDFC FIRST Bank Sticker debit card includes free personal accidental insurance, round-the-clock concierge services, and a variety of RuPay promotions.
Rajeeth Pillai, Chief Relationship Management and Marketing, NPCI said, “We are delighted to launch the country’s first Sticker-based Debit Card on RuPay in partnership with IDFC FIRST Bank. This new innovative offering is an ode to the go-getter, the spirited individuals who are always on the go. RuPay ON-THE-GO is redefining the contactless payments space with its agility and convenience of tap & go. With this new form factor, it seamlessly integrates into the consumers’ lifestyle as well as makes it a contemporary choice for modern Indians. At NPCI, we emphasise working with ecosystem partners to bring innovative solutions to any existing latent demand. We are focused on our endeavour of building new, innovative and beneficial products and services for our end-users.”
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