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IDFC FIRST Bank launches FIRSTAP, country's first Sticker-based Debit Card

Posted On : 2022-11-24 11:47:49( TIMEZONE : IST )

IDFC FIRST Bank launches FIRSTAP, country's first Sticker-based Debit Card

IDFC FIRST Bank has 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.

The touch-free way to pay enablespayments in seconds for transactions up to Rs. 5,000 without a PIN, and those beyond that, with 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 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."

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 partnersto bring innovative solutions to any existing latent demand. We are focusedon our endeavour of building new, innovative and beneficial products and services for our end-users."

This IDFC FIRST Bank Sticker debit card comes with a complimentary personal accidental cover and 24/7 concierge services with a host of RuPay offers.

Shares of IDFC First Bank Limited was last trading in BSE at Rs. 57.00 as compared to the previous close of Rs. 56.80. The total number of shares traded during the day was 2305417 in over 6274 trades.

The stock hit an intraday high of Rs. 57.30 and intraday low of 56.80. The net turnover during the day was Rs. 131473391.00.

Source : Equity Bulls


IDFCFirstBank INE092T01019 FIRSTAP StickerBased DebitCard NPCI