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.
IDFC FIRST Bank Launches FIRSTAP
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 enables payments 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 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.”
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.
About IDFC FIRST Bank
IDFC FIRST Bankwas formed by the merger of erstwhile IDFC Bank, promoted by renowned infrastructure financing institution IDFC Ltd. and leading technology NBFC, Capital First. The bank believes in making customer – first products, and was the first universal bank to offer monthly interest credit on savings accounts, first bank to issue life-time free credit cards with no minimum spend conditions, first bank to offer dynamic and low APR rates, evergreen rewards points, and many other such interesting products.
The Bank’s vision is to build a world class bank in India, guided by ethics, powered by technology, and to be a force for social good. Our mission is to touch the lives of millions of Indians in a positive way by providing them high-quality banking services.
IDFC FIRST Bank, has a balance sheet of Rs. 2,12,776 crore and has provided over 30 million loans in its combined history and serves customers in over 60,000 villages, cities and towns across the length and breadth of the country.
In a short time, the Bank has expanded to 670 branches, 249 asset service centres, 812 ATMs and 606 rural business correspondent centres across the country, a next-generation net and mobile banking platform and 24/7 Customer Care services. IDFC FIRST Bank is committed to bring high-quality banking at affordable rates to India. The Bank also offers high quality technology-enabled corporate banking solutions, contemporary cash management solutions, fleet card and FASTag solutions and wealth management solutions.
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC FasTag) and Bharat BillPay. NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.