Kotak Mahindra Bank introduces KayPay
VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Kotak Mahindra Bank (KMB) has announced the launch of KayPay, the world’s first bank- agnostic payment product for Facebook users to send money to each other in an instant (24*7). KayPay enables over 250 million Indian bank account-holders transfer funds to each other instantly by just choosing recipients from their Facebook friends list. It offers a safe and secure platform to transact on the social networking site through a two-level authentication – Facebook user id & password and a One Time Password (OTP). Further, both sender and receiver immediately receive notifications via SMS and on Facebook about the transfer. Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank, said, “KayPay is a revolutionary Digital Banking innovation that leverages social media to offer a better and secure payment platform to all. KayPay is bank-agnostic, facilitating transfer of funds instantly. The convenien