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India’s First Sticker-Based Debit Card

Published on November 25, 2022
Current Context: IDFC First Bank launched India’s first sticker-based debit card, FIRSTAP, in collaboration with the National Payments Corporation of India (NPCI).
India’s First Sticker-Based Debit Card
  • FIRSTAP will facilitate the transaction by tapping on the sticker on a Near Field Communication (NFC) enabled POS terminal.
  • FIRSTAP is one-third the size of a regular debit card and can be affixed on any surface viz. ID card, mobile wallet, watches, etc.
  • The debit card comes with a variety of complimentary offers such as personal accident cover, various RuPay offers, etc.
  • The tap and pay option will be eligible for transactions up to INR 5,000 and the transaction above it will require tap and PIN.
  • IDFC First Bank was established in 2018 with the merger of IDFC Bank and Capital First. It has its headquarters in Mumbai. The current MD & CEO of the bank is V Vaidyanathan.

Question:

Q.1 Which of the following bank launched India’s first sticker-based debit card in collaboration with the National Payments Corporation of India (NPCI)?
a. HDFC
b. IDFC First
c. ICICI
d. Canara
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