IndusInd Bank and Samsung Electronics tie up to facilitate 'tap and pay' credit system

MUMBAI: IndusInd Bank announced a collaboration with Samsung Electronics to enable its MasterCard and Visa credit card customers to use 'Samsung Pay'.

IndusInd credit card holders can now 'tap and pay' at merchant outlets having Point of Sale (PoS) terminals using a wide range of Samsung Smartphones.

Meanwhile, the Samsung Pay payments system is simple, secure and accepted almost everywhere.

It allows customers to simply tap and 'pay on the go' using their registered IndusInd Bank credit cards.

The platform works with patented Magnetic Secure Transmission (MST) technology as well as Near Field Communication (NFC) and hence can be used seamlessly at around 3.1 million Point of Sale (PoS) card machines across the country.

As a part of the launch and customer engagement strategy, IndusInd Bank credit card customers who have an eligible Samsung device can get 100 percent cashback on their first three transactions till April 30, 2018.

"IndusInd Bank has always been at the forefront of responsive/digital innovations. The coming together of Samsung, which is one of the world's most trusted smartphone companies with IndusInd Bank has created huge convenience for our customers. Enhancing customer convenience is an integral part of our business mantra, and this is a definitive step in that direction," said Anil Ramachandran - head, marketing and corporate communication and retail unsecured assets at IndusInd Bank.

"Samsung Pay gives freedom to customers to leave their physical credit and debit cards at home and make payments almost everywhere. Samsung Pay is a highly secure platform as it works with three levels of security- fingerprint authentication, card tokenisation and Samsung KNOX. Our partnership will enable IndusInd Bank customers to make seamless digital payments in a more secure manner," said Sanjay Razdan, senior director, Samsung India. (ANI)