TECH
IDFC First Bank launches India’s first sticker-based debit card
FIRSTAP permits transactions by simply tapping the sticker on a point-of-sale terminal that supports Near Field Communication.
FIRSTAP permits transactions by simply tapping the sticker on a point-of-sale terminal that supports Near Field Communication.
IDFC First Bank, in collaboration with the National Payments Corporation of India (NPCI), has launched India’s first sticker-based debit card.
Named FIRSTAP, this will permit transactions by simply tapping the sticker on a point-of-sale terminal that supports Near Field Communication (NFC).
The sticker debit card comes with a complimentary personal accidental cover, round-the-clock concierge services and a host of RuPay offers.
The touch-free way to pay enables payments in seconds for transactions up to Rs 5,000 without a pin. Transactions above that will require a tap and PIN.
Being one-third the size of a regular debit card, FIRSTAP significantly increases user convenience by making it applicable on a wide range of products and devices. The sticker-based debit card may be attached to any surface including mobile phones, ID cards, wallets, tabs, airpod cases, etc.
The object can be used to tap and pay, eliminating the need to carry a debit card. It can also be adapted to wearable devices like watches and rings, or it can be used after scanning a QR code to enter a UPI PIN.
Said Sumit Madan, head, retail liabilities and branch banking, IDFC First Bank, “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."
Added Rajeeth Pillai, chief relationship management and marketing, NPCI, “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."