06 December 2016
Visit aciworldwide.com

Mashreq rolls out contactless stickers

08 April 2014  |  4942 views  |  2 Mashreq branh

United Arab Emirate-based bank Mashreq is offering customers stickers that can be attached to mobile phones and used to make contactless payments.

Available to Mashreq credit card customers, the stickers can be used to make purchases under AED 100 at over 4000 merchants in the UAE.

Each sticker has its own 16 digit number and is linked to the customer's card, letting them earn reward points, cash-back and other spend-linked benefits.

Farhad Irani, head, retail banking, Mashreq, says: "At Mashreq we asked ourselves - if we can communicate , connect , shop and entertain ourselves on the smart phone, why do we still impose upon our customers a plastic card, something created in the 1950s almost over sixty years ago."
KeywordsEFTPOS

Comments: (2)

Andrew Smith
Andrew Smith - CloudZync - London | 08 April, 2014, 11:14

Great comment from the head of retail banking. Though the card is over sixty years old, you still opt to use the same old card numbers and infrastructure. A consumer could just stick their contactless card to the back of their phone? Im not sure this is innovative...

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 09 April, 2014, 15:11

At the risk of using a morbid analogy, sticker on smartphone is like Band Aid on cancer - pointless. On another note, replacing something 60 years old with something else that's hardly trailblazing is innovative?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Finnish telco hawks pre-loaded contactless payments stickers

Finnish telco hawks pre-loaded contactless payments stickers

04 April 2014  |  4525 views  |  3 comments | 6 tweets | 3 linkedin
CommBank and Westpac to put Australia at forefront of Mobile NFC wave

CommBank and Westpac to put Australia at forefront of Mobile NFC wave

12 December 2013  |  5742 views  |  0 comments | 5 tweets | 7 linkedin
Mashreq packs branches with interactive experience tech

Mashreq packs branches with interactive experience tech

29 November 2013  |  4477 views  |  0 comments | 5 tweets | 5 linkedin
UniCredit to issue contactless stickers in Russia

UniCredit to issue contactless stickers in Russia

20 November 2013  |  3507 views  |  0 comments | 5 tweets | 4 linkedin
La Caixa to distribute 200,000 contactless stickers

La Caixa to distribute 200,000 contactless stickers

03 December 2012  |  8716 views  |  3 comments | 11 tweets | 6 linkedin
Citi Hungary introduces contactless stickers

Citi Hungary introduces contactless stickers

18 October 2012  |  5858 views  |  0 comments | 1 tweets
Barclaycard rolls out contactless stickers

Barclaycard rolls out contactless stickers

19 April 2012  |  15062 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Find out moreVisit capgemini.comFind out more

Who is commenting?

A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
6789 views 12 comments | 15 tweets | 26 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
6344 views comments | 23 tweets | 15 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
6196 views comments | 17 tweets | 21 linkedin
Amazon signs up tech firms to financial services cloud programmeAmazon signs up tech firms to financial se...
6008 views comments | 14 tweets | 15 linkedin
Big tech policy group calls on Trump to promote fintech innovationBig tech policy group calls on Trump to pr...
5385 views comments | 22 tweets | 11 linkedin

Featured job

Find your next job