India’s 1st Interactive Credit Card Has Buttons For EMI, Rewards – Find Out How This Works!
The main advantage of such interactive credit card is: Time. No longer waiting for customer reps for converting a payment into EMI.
Hinduja Group backed IndusInd Bank has launched India’s first interactive credit card.
This brings in a paradigm shift the way credit card operates, and the way users’ ‘intereact’ with it. Powered with buttons and LED lights, this new form of credit card will present to the user several options, which otherwise has to be accomplished by calling customer care of the bank.
Want to know how this works?
IndusInd Bank’s New Innovation: Interactive Credit Cards
IndusInd Bank Nexxt Credit Card is the name of India’s 1st credit card, which is India’s first interactive credit card.
The card has been powered by technology created by a US-based technology firm Dynamics Inc. They develop mini-chips which can be installed inside cards, and make them interactive.
As per their website, these cards are powered by batteries, and hailed as the next-generation card technology.
Sumant Kathpalia – Head, Consumer Banking at IndusInd bank said, “The Power of Choice moves completely to the customer. For us, customer experience is the key touchstone, and our objective is to always elevate and enhance customer experience with our innovative products and service propositions.”
How Does It Work?
The credit card has three interactive buttons embedded, along with 4 LEDs.
Three buttons on the card give you three options:
EMI, Pay by Credit or Reward points.
While making the payment at the PoS or Point of Sale terminal (showroom, restaurant, shopping mall), the user can select any one option.
Hence, by tapping the Pay by Credit button, the transaction will be instantly paid using the credit balance. By tapping the Rewards button, the associated reward points for the transaction will be delivered.
And for converting the payment into EMI, the EMI button has to be tapped, along with the period of the EMI, which can be selected via 4 LED lights: 6 months, 12 months, 18 months or 24 months tenure.
Currently, credit card customers need to call Customer care, and then convert their payments into EMI.
What Problem Does This Solve?
The major advantage is time-saving. No longer the credit card user is required to call customer care or submit paper work to convert any payment into EMI.
Besides, with interactive buttons on the card, the user can immediately decide what course of action has to be taken.
Press release from the bank said, “A customer does not need to fill any paperwork, or call their bank, or log in to any banking channel to convert their POS transactions into EMIs, or to redeem their Rewards Points.”
IndusInd Bank has also announced several new reward schemes for using this new card.
Do you think that such interactive credit cards can bring in a major change in the adapting of cashless transactions? Do let us know by commenting right here!