IndusInd Bank partners with Samsung to offer Samsung Pay services to its credit card customers

Mumbai, April 06, 2018, Friday: Indusind bank today announced 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.

Samsung Pay is a revolutionary payments system, which is ‘Simple, Secure and accepted Almost Everywhere’. Samsung Pay allows customers to simply tap and ‘pay on the go’ using their registered IndusInd Bank Credit Cards. Samsung Pay 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% Cashback on their first 3 transactions till April 30, 2018.

Mr. Anil Ramachandran - Head, Marketing & Corp Communication and Retail Unsecured Assets at IndusInd Bank said, “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.

Mr. Sanjay Razdan, Senior Director, Samsung India, said, “Samsung Pay, loved by millions of customers, just turned a year-old in India. Samsung Pay is simple, secure and its biggest USP is that it is accepted almost everywhere a user can tap or swipe physical cards. Samsung Pay gives freedom to customers to leave their physical Credit and Debit cards at home and make payments almost everywhere. Samsung Pay is highly secure platform as it works with three levels of security—fingerprint authentication, card tokenization and Samsung KNOX. Our partnership will enable IndusInd Bank customers to make seamless digital payments in a more secured manner.”

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 June 30, 2019, IndusInd Bank has 1701 branches/ banking outlet and 2605 ATMs spread across 740 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. 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 01, 2013 was included in the NIFTY 50 benchmark index.

Ratings:

Domestic Ratings

• CRISIL AA + for Infra Bonds program
• CRISIL AA for Additional Tier I Bonds program
• CRISIL A1+ for certificate of deposit program
• IND AA+ for Senior bonds program by India Ratings and Research
• IND AA for Additional Tier I Bonds program by India Ratings and Research
• IND A1+ for Short Term Debt Instruments by India Ratings and Research

International Ratings

• Baa3 as Issuer, Bank Deposits and Senior Unsecured MTN ratings by Moody’s Investors Service
• P3 as Short Term Issuer Rating by Moody’s Investors Service

Visit us at www.indusind.com

Twitter- @MyIndusIndBank

Facebook - https://www.facebook.com/OfficialIndusIndBankPage/

About Samsung Electronics Co. Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems and memory, system LSI, foundry and LED solutions. For latest news on Samsung India, please visit Samsung India Newsroom at http://news.samsung.com/in For Hindi, log on to Samsung Newsroom Bharat at https://news.samsung.com/bharat You can also follow us on Twitter @SamsungNewsIN