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IndusInd Bank and Dynamics Launch the Nexxt Credit Card – India’s First Battery-Powered Interactive Card

January 9, 2019

LAS VEGAS--(BUSINESS WIRE)--Jan 9, 2019--Dynamics Inc. and IndusInd Bank announce that IndusInd Bank has launched the Nexxt Credit Card – India’s first interactive credit card with buttons.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190109005615/en/

IndusInd Bank Nexxt Credit Card (Photo: Business Wire)

The card has electronic circuitry, a battery, and three buttons. You can interact with the buttons on the card to pay with credit, pay with points, or pay with installments. Each time a button is pressed, the card re-writes its magnetic stripe, EMV chip, and contactless chip so the selected payment type can be used in any type of payment terminal.

Any payment option can be used at any merchant point-of-sale. Merchants do not need any special point-of-sale equipment. When paying, merchants will not know the option you selected. Merchants will only see a credit transaction authorized by the bank. Accordingly, your payment options will be kept private and confidential from the merchant. You do not need to worry about the merchant knowing your payment details.

The Installment Option

You have four installment options when making a purchase. By pressing the installment button multiple times, you can select from a 6 month installment, 12 month installment, 18 month installment, or a 24 month installment.

Each installment option is written on the card next to a different light. Pressing the installment button once turns on the light for the 6 month installment option. Pressing the button twice turns on the light for the 12 month installment option (and so on).

The Rewards Option

You can pay for any purchase using your accrued rewards by pressing the rewards button on the card. To see your reward balance at any time, simply review your account on the internet or your mobile application.

The Credit Option

You can pay for any purchase with credit by pressing the credit button. This works just like your traditional credit card and is accepted anywhere Mastercard is accepted.

“We are pleased to announce the launch of the IndusInd Bank Nexxt Credit Card. With this card, our aim is to give the customer multiple options on how to make a payment using his or her Credit Card. The Power of Choice moves completely to the customer,” stated Sumant Kathpalia, Head, Consumer Banking at IndusInd Bank, “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.”

“India is one of the fastest and largest evolving payment markets in the world. And, the leadership at IndusInd Bank is leveraging innovation to better serve customers while deepening their business models and strategy,“ stated Jeff Mullen, Dynamics Inc. CEO. “With the ability to pay with rewards and pay with credit, consumers can enjoy best-in-class loyalty functionality at any merchant in the world. With the ability to pay with installments, consumers can make smarter financial management choices at the point of sale. The IndusInd Bank Nexxt card is India’s first card that really lets a consumer pay the way they want to pay.”

“At IndusInd Bank, responsive innovation has been our mantra to design financial products that enhance customer empowerment and boost convenience for them,” stated Anil Ramachandran, EVP & Head, Marketing and Retail Unsecured Assets at IndusInd Bank. “We are delighted to launch the IndusInd Bank Nexxt Credit Card, which redefines the payment experience for customers by giving them the freedom to choose their mode of payment at the Point of Sale. They now have convenience at the push of a button. It does not get simpler than this.”

To apply for the card, please visit https://www.indusind.com/home.Nexxt.html

About Dynamics Inc.

Dynamics has three business units – an intelligent card, value-added processing, and phone payment technology business unit. The Company’s intelligent card division has introduced market defining card products such as the world’s first multiple account card (Canada), the world’s first password protected card (Asia), and the world’s first multiple co-brand card (USA). The Company’s value-added processing division provides real-time loyalty or purchase notification to millions of consumers and includes customers such as Tim Hortons and the Upper Deck Company. The Company also produces pay-by-phone technology that is used in cell phones. LG Electronics leverages Dynamics technology in LG Pay. Dynamics has raised over $110 million dollars in funding from investors including Mastercard, CIBC, and Adams Capital Management. Dynamics operates multiple manufacturing facilities, physical card personalization, and remote data trusted service manager (TSM) facilities, with its Global Headquarters in Pittsburgh, Pa., APAC headquarters in Singapore, LATAM headquarters in Sao Paulo, Brazil, and EMEA headquarters in New York. More information on the company, its technology and applications can be found at  www.dynamicsinc.com.

About IndusInd Bank

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on September 30, 2018, IndusInd Bank has 1,466 branches, including 203 specialized branches, and 2,372 ATMs spread across geographical locations of the country. The Bank also has representative offices in London, Dubai, Abu Dhabi and Doha. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in the NIFTY 50 benchmark index. Recently, IndusInd Bank was awarded Best Commercial Bank of the Year (India) and Best Innovation in Retail Banking (India) by International Banker 2018 Awards. For more information, visit  https://www.indusind.com/

All Trademarks are the property of their respective owners

View source version on businesswire.com:https://www.businesswire.com/news/home/20190109005615/en/

CONTACT: Media Contact

Brian Schuliger

Dynamics Inc.

+1 (724) 274-6484 x142

press@dynamicsinc.com

KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA NEVADA PENNSYLVANIA INDIA

INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE OTHER TECHNOLOGY SECURITY MOBILE/WIRELESS PROFESSIONAL SERVICES BANKING FINANCE OTHER PROFESSIONAL SERVICES

SOURCE: Dynamics Inc.

Copyright Business Wire 2019.

PUB: 01/09/2019 11:11 AM/DISC: 01/09/2019 11:11 AM

http://www.businesswire.com/news/home/20190109005615/en

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