IDFC First Bank has issued FIRSTAP, a sticker-based debit card today. The launch is in collaboration with the National Payments Corporation of India (NPCI) to facilitate transactions by simply tapping the sticker on a point-of-sale terminal that supports Near Field Communication (NFC).
Sumit Madan, head, retail liabilities and branch banking, IDFC First Bank, on the occasion of the launch 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.”
According to the business, the sticker-based debit card is one-third the size of a traditional debit card, making it usable to a wide range of devices and objects and considerably improving client convenience. Madan went on to say that this form factor has a wide range of applications.
Customers, according to the company, can stick the sticker-based debit card to any surface of their choice, including cell phones, identity cards, wallets, tabs, and airpod cases. The object can be used to tap and pay, eliminating the need to carry a debit card, or it can be adapted to wearable devices such as watches and rings, or it can be used to enter a UPI PIN after scanning a QR code.
“This new innovative offering is an ode to the go-getter, the spirited individuals who are always on the 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,” Rajeeth Pillai, chief relationship management and marketing, NPCI, stated.
The IDFC First bank sticker debit card provides with a free personal accidental cover and 24/7 concierge services, as well as a slew of RuPay promotions. The touch-free method of payment allows for payments in seconds for purchases up to Rs 5,000 without a pin, and payments above that with a tap and PIN.