IndusIndbank introduces push button credit card

Who will cover the cost of issuence I wonder. Why do you need a plastic card anyway

One of the things I really like about my cards is that they do not require a battery!

what is the point of having a smarter card when you can use your phone??

A mobile phone is a general purpose computing device - it is inherently unsafe.

An EMV card is a trusted certificate that cannot be compromised (at least, less likely than the phone).

Also, my phone battery goes flat - my card does not.

The option is already out there to have one card and alter via a phone app. Anything extra with a battery is not what I want.

There are various alternative ways to decide how to direct a card payment but, for more reasons than one, this push button card is easily the most frictionless method for doing so: (1) Press button, it can't get simpler than that, no fumbling around with smartphone lockscreen, firing an app, finding the correct option (2) Single item, fewer moving parts, bound to be more reliable (3) No dependency on network signal strength, will always work (4) Uses button cell, which hopefully lasts the entire duration of the card's validity; or, even if it doesn't, it can be simply replaced without the need for daily charging.

Kudos to IndusInd Bank for channelizing its innovation efforts into areas where they add tangible value, instead of developing solutions seeking problems. 

Fair point

The story with the battery gets worse - a replaceable battery? That means contacts that can corrode. There are enough unreliable electronics in the world without it affecting my cards.

As for the idea of so easily applying for a loan to buy something I don't really need - it will put me further in debt and only the loan sharks win. There must be some pain in applying for a loan to give me a chance to think it through.

@VernonCrabtree:

If banks introduce "pain in applying for a loan", fintechs will grab all their customers; by offering highly frictionless loan products with terms and conditions that neither fintechs nor consumers will understand, fintechs will inflict death by thousand cuts on banks; banks will fast become extinct; yada yada yada.

Looks like you're not very fond of banks, to put it mildly:)))

Banks = Trust

Trust = got my back

I very much like banks. I trust them (like I trust my card not to run out of battery or fail due to corroded connections).

But if easy loan products that I haven't taken the time to understand put me in debt, I might take a different view.

Okay, jokes apart, this push button won't put anyone in debt. It appears on a credit card, which is already debt territory. Besides, maybe because of emerging marketing dynamics or high NIMs enjoyed by banks or kickback from merchants or whatever, many consumer loans in India are interest-free, at least for durations up to 12 months. So, IMO, the convenience benefit of this push button far outweigh the debt trap cost.

It is quite cool what is being built into cards now. This is indeed a good example - if they can get the reliability right. The products it supports are probably already on the market so it is a good convenience in certain markets.