IDFC FIRST Bank Launches Country's First Sticker-based Debit CardFIRSTAP, the sticker-based Debit Card, is one third the size of a regular debit card, thus making the sticker applicable on a wide range of devices and objects
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IDFC FIRST Bank on Wednesday launched FIRSTAP, the country's first sticker-based debit card, in association with National Payments Corporation of India (NPCI), to facilitate transactions by simply tapping the sticker on a near field communication (NFC) enabled point-of-sale terminal.
The sticker-based Debit Card is one third the size of a regular debit card, thus making the sticker applicable on a wide range of devices and objects, and significantly enhancing customer convenience. Customers can affix the sticker-based Debit Card on any surface of their choice, such as cell phones, identity cards, wallets, tabs, airpod cases, etc. The object can be used to tap and pay, thus doing away with the need to carry a debit card or adapting to wearable devices such as watches and rings or entering a UPI PIN after scanning a QR code, said a statement.
"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," said Sumit Madan, head – Retail Liabilities and Branch Banking, IDFC FIRST Bank in the statement.
"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 and 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 emphasize working with ecosystem partners to bring innovative solutions to any existing latent demand. We are focused on our endeavor of building new, innovative and beneficial products and services for our end-users," said Rajeeth Pillai, chief relationship management and marketing, NPCI, in the statement.
IDFC FIRST Bank was formed by the merger of erstwhile IDFC Bank, promoted by renowned infrastructure financing institution IDFC Ltd. and leading technology NBFC, Capital First. National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India.
