Kotak Mahindra Bank has announced launch of a 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 is interoperable across all payment apps and is available on both Android and iOS,” it said in a statement.