Mashreq rolls out contactless stickers
08 April 2014 | 5429 views | 2
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."