Kotak Mahindra Bank has announced the launch of ‘Pay Your Contact’ the new feature that enables its customers to send money or make payments to any of their contacts across all payment apps simply by the beneficiary’s mobile number. The ‘Pay Your Contact’ service is available on the lender’s mobile banking app and uses the Unified Payments Interface (UPI) platform.
The ‘Pay Your Contact’ feature on Kotak mobile banking app has made payments as easy and simple as can be. Kotak customers can now make their payments to a friend, household help, neighbourhood shop etc. just by knowing the beneficiary’s mobile number.
Important takeaways for all competitive exams:
- Kotak Mahindra Bank Establishment: 2003;
- Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
- Kotak Mahindra Bank MD & CEO: Uday Kotak;
- Kotak Mahindra Bank Tagline: Let’s Make Money Simple.