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Nexxt Credit Card: IndusInd Bank launches first interactive Credit Card in India with buttons

IndusInd Bank has launched first interactive Credit Card in India with buttons called IndusInd Bank Nexxt Credit Card.  It will give customer multiple options on how to make a payment using his or her Credit Card. This Card has been created in partnership with Pittsburgh USA headquartered Dynamics Inc., which designs and manufactures intelligent, battery powered payment cards

Key Facts

This interactive Credit Card provides customers with flexibility of three payment options at Point of Sale (POS) terminal – Credit, Converting Transactions into EMIs with 4 tenure options (6, 12, 18 & 24 months) or using accumulated Reward Points, by simply pushing a button on the card.

It incorporates technology that indicates customer’s desired payment choice using LED lights associated with three options. Using it 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.

Month: Categories: Banking Current Affairs 2018

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India overtakes US to become 2nd largest smartphone market behind China

According to research firm Canalys, India has overtaken US to become second largest smartphone market in the July-September 2018 quarter. India saw shipment of 40.4 million units during third quarter and was second to China where 100.6 million smartphones were shipped. Smartphone shipment in US was at 40 million units.

Key Highlights

Worldwide smartphone shipments fell by 7.2% year-on-year to 348.9 million units during July-September 2018, a fourth consecutive quarter of decline. This was also worst third quarter performance since 2015. Seven of the top ten markets recorded year-on-year (y-o-y) declines, mainly caused by lengthening smartphone replacement cycles, worsening international trading conditions and competition from major Chinese vendors.

The three markets (among top 10) that registered growth were Indonesia (13.2% increase y-o-y to 8.9 million units), Russia (11.5% jump y-o-y to 8.8 million units) and Germany (2.4% rise y-o-y to 5.5 million units). China’s smartphone shipment declined 15.2% y-o-y, India by 1.1% and US by 0.4% in September 2018 quarter.

Samsung led vendor tally with 20.4% share in said quarter, followed by Huawei (14.9%), Apple (13.4%), Xiaomi (9.6%), and Oppo (8.9%). The worldwide smartphone market faces unprecedented challenge, while its dynamics are changing rapidly at both vendor and country level. This is providing growth opportunities for aggressive vendors with speed to respond quickly to market changes.

Month: Categories: Business & Economy Current Affairs 2018

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