IndusInd launches interactive credit card: IndusInd Bank Nexxt Credit Card,IndusInd Bank has launched India’s first interactive card called the IndusInd Bank Nexxt Credit Card. It claims to offer total flexibility when making payments at POS (Point of Sale). This next-gen plastic has LED buttons which empower you to switch between multiple payment options. Let us have a closer look.

A regular card, but with a difference

Nexxt Credit Card works like a regular credit card for online transactions. So, one has to use the credentials printed on the back of the credit card to complete the transaction.

For in-store transactions, you can press a button with your preferred option to pay. There will be an indicator light that will initially emit light constantly, and then blink periodically, for up to 6 minutes.  During this six minute period, you may swipe/insert/tap your card or hand over your card to a cashier. The EMI & Rewards buttons on Nexxt Credit Card can be used only while transacting at POS merchant outlets, but they will not apply to Online, Moto, IVR, Samsung Pay and ATM cash withdrawal transactions. For such transactions, IndusInd Bank says that the standard credit option will be considered.

The LED light will switch off 20 seconds after a transaction. If no transaction happens, the LED light will switch off after 6 minutes.

Cardholder can, however, opt for the EMI option without using the buttons, if provided by merchants for online transactions.

Payment flexibility

IndusInd Bank Nexxt Credit Card comes with three options at POS merchant establishment. 1. Pay with Credit option 2. Pay with Reward Points. 3. Pay with EMI (pay in equal installments of 6, 12, 18 and 24 months at a special interest rate of 12% with no processing fees).

The credit card plastic has buttons for payment options. As per the bank website, each button corresponds to a different payment feature. When the button is pressed, the LED light associated with the pressed button illuminates to indicate the payment selection. You should press the relevant button (Credit/Rewards/EMI) before authorising the transaction at POS to indicate your choice of payment.

Pay with Credit option – Press this button if you wish to pay via the Credit option. This works just like your regular credit card.

Pay with Rewards Points – This is when you want to pay using your accrued rewards. You have to press the Rewards button before authorising the transaction. Your accumulated rewards, if available, will get deducted against the value of the transaction. For every Rs 150 spent on your IndusInd Bank Nexxt Credit Card, you get 1 reward point.

Do bear in mind that you will need to accumulate a minimum of 500 reward points to use ‘Pay by Rewards’ option.

Pay with EMI option – To pay using the EMI option, you need to select the number of months by pressing the EMI button till you reach your desired number of months before authorising the transaction. For instance, for six months, you have to press the EMI button once. For 12 months, you have to press twice, and so on. You will have to ensure the LED light corresponding to your preferred tenure option illuminates before using the card.

The cardholder can choose between EMI tenure options of 6,12,18 and 24 months at an interest rate of 12%. Do note the Bank may change the interest rate applicable for EMI.

The Pay by EMI option using the EMI button is available for transactions above Rs 2,000, and Jewellery, Fuel and ATM cash withdrawal transactions cannot be converted into EMI by pressing the EMI button.

Contactless feature

The IndusInd Bank Nexxt is a chip-based contactless credit card, according to the bank. This card has a contactless feature that enables you to make purchases by simply tapping your credit card at merchant locations where contactless payment is accepted. It can also be used at millions of merchant locations where standard card payments are accepted.

You can use your contactless card for any amount within the overall daily Point of Sales Limit of Rs 2,000 transaction.

Welcome and Other Benefits

With the IndusInd Bank Nexxt Credit Card, a customer can choose one of the options from a select collection of welcome gifts for you like Satya Paul, Oberoi Hotels, Genesis Luxury Vouchers, Aldo, William Penn, Armani, Titan, Pantaloons, Hidesign, Woodland, United Colors of Benetton, Yatra.com. Do note that the ‘Welcome Gift’ is subject to the customer complying with a few conditions.

The conditions are that the cardholder is eligible for the Welcome Gift on payment of the joining fees or settlement of payment against joining fees, the cardholder will be sent an SMS from IndusInd Bank once he is eligible for a welcome gift within 10 working days of fee payment, the cardholder will then need to request for dispatch of the welcome gift within 30 days of receiving the SMS by contacting the bank.

Welcome gift dispatch request received after the stipulated time period of 30 days will not be considered, says the bank.

No details about card joining fee are at present available.

Apart from welcome benefits, the card offers a free movie ticket with every ticket you buy on BookMyShow.com and at Satyam Cinemas, Total Protect feature to cover you for a sum up to the credit limit on your card against fraudulent usage, complimentary Personal Air Accident Insurance of up to Rs 25 lakh, 1% fuel surcharge waiver across all fuel stations in India on transactions between Rs 400 to Rs 4000, a complimentary Priority Pass Membership with access to over 700+ lounges around the world, Auto Assist etc.

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Staff Writer

This article is written by RupeeIQ editorial staff.