Kotak Mahindra Bank launched ‘Pay Your Contact’ service

Kotak Mahindra Bank (KMBL) has announced the launch of ‘Pay Your Contact’. The feature is interoperable across all payment apps and is available on both Android and iOS.

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It is an innovative feature on KMBL’s mobile banking app that uses the Unified Payments Interface (UPI) platform and allows customers to send money or make payments to any of their contacts across all payment apps simply by entering the beneficiary’s mobile number.

With ‘Pay Your Contact’, KMBL customers no longer need to remember or obtain the bank account number or IFSC code or remember UPI IDs to send money or make payments.

All a customer needs to do is select a contact saved on one’s mobile phone or enter the mobile number of the beneficiary, select the UPI app or a KMBL account linked to the beneficiary’s number and effortlessly transfer the money – straight from the Kotak mobile banking app.