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Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in Mumbai.It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. [6]
Unified Payments Interface (UPI) is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
The payment network RTGS/NEFT, debit card and internet banking was also integrated into the app. In 2017 mobile payment, Unified Payment Interface (UPI) facility through BHIM support was added in the app. [4] Kotak Mahindra Bank has been selected as a digital payments partner by the National Agriculture Market (eNAM).
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI).
The PhonePe app, based on the Unified Payments Interface, went live in August 2016. [9] [10] The PhonePe app is accessible in 11 Indian languages. [11] It enables users to perform various financial transactions such as sending and receiving money, recharging mobile and DTH, making utility payments, conducting in-store payments. [12] [13]
The ET Money secured 2.5 million app downloads in 2017. [2] It processed over 2 crore investment orders and registered a ₹ 500 crore sales in the mutual fund within two years of its launch. It had more than 4 million users on its app, as reported in 2018. [3] It currently has more than 5 million app downloads on the Google Play store as of ...
Zeta has partnerships with IDFC Bank, [18] Sodexo, [19] Excelity Global, [20] Kotak Mahindra Bank [21] [22] and RBL Bank. [15] Zeta launched the first employee benefits survey in India along with Nielsen Holdings in April 2018. [23] It also bought a minority stake in PeopleStrong in January 2018. [24]
In 2015, eleven companies received In-principle approval from the Reserve Bank of India to set up Payments Bank under the guidelines for Licensing of Payments Bank. [6]On 11 April 2016, Airtel Payments Bank became the first company to receive the Payments Bank license from the Reserve Bank of India under Section 22 (1) of the Banking Regulation Act, 1949.