Private sector lender IDFC FIRST Bank on Wednesday said it has launched FIRSTAP, the country’s first sticker-based debit card, which can be used to tap and pay in stores, restaurants, and all other places, doing away with the need to carry a debit card. The lender has launched the card in association with the 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, which makes the sticker applicable on a wide range of devices and objects, and significantly enhances customer convenience. “Customers can affix the sticker-based debit card on any surface of their choice, such as cell phones, identity cards, wallets, tabs, AirPods cases, etc,” IDFC FIRST Bank said in a release.
As per the release, the object can be used to tap and pay, 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.
Besides, the sticker facilitates touch-free way to do transactions up to ₹5,000 without a PIN, and those beyond that, with a tap and PIN.
The debit card comes with a complimentary personal accidental cover and 24/7 concierge services with a host of RuPay offers.
Speaking on 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 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,” Madan added.
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,” Pillai said.
Meanwhile, shares of IDFC FIRST Bank closed trade at ₹57, up 0.35% on the Bombay Stock Exchange.
