NPCI and IDFC First Bank lineup to debut industry-first sticker-based Debit Card
In collaboration with the National Payments Corporation of India (NPCI), IDFC FIRST Bank has introduced FIRSTAP, the nation's first sticker-based debit card, to permit transactions by merely tapping the sticker on a point-of-sale terminal that supports Near Field Communication (NFC).
PremiumIn collaboration with the National Payments Corporation of India (NPCI), IDFC FIRST Bank has introduced FIRSTAP, the nation's first sticker-based debit card, to permit transactions by merely tapping the sticker on a point-of-sale terminal that supports Near Field Communication (NFC).
This IDFC FIRST Bank Sticker debit card has a complimentary personal accidental cover, round-the-clock concierge services, and a variety of RuPay offers. Due to its smaller size than a typical debit card, the sticker-based Debit Card massively increases user convenience by being usable on a wide range of products and devices for example 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 utilized 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. With the touch-free method of payment, transactions up to Rs. 5,000 may be completed in a matter of seconds without a PIN, whereas transactions above that require a tap and PIN.
Speaking on the occasion of the launch, 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 customercentric 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."
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."
With a balance sheet of Rs. 2,12,776 crore and over 30 million loans made in total, IDFC FIRST Bank serves customers in more than 60,000 villages, cities, and towns throughout the country. The bank has grown to include 606 rural business correspondent centres, 249 asset service centres, 812 ATMs, and 670 branches around the nation.
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