IDFC First Bank has rolled out a sticker-based debit card, called FIRSTAP. The launch is 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.
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."
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, the company said in a statement. Madan added that there are multiple use cases for this form factor.
As per the company, customers can affix the sticker-based debit card on any surface of their choice, such as cell phones, identity cards, wallets, tabs, airpod cases, among others. 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.
“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 comes with a complimentary personal accidental cover and 24/7 concierge services with 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, and those beyond that, with a tap and PIN.
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