Tag: payment app

Kotak Mahindra Bank customers can pay overdue EMI through payment app

Banking & Finance

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Kotak Mahindra Bank customers can now pay a missed EMI or an overdue loan instalment using any payment app such as Google Pay, PhonePe, Paytm.

“Kotak Loans is now live on the Bharat Bill Payment System (BBPS) platform and customers have to simply choose ‘Kotak Mahindra Bank Loan’ as the biller name on the payment app of their choice,” the private sector lender said in a statement on Saturday, adding that details of any EMIs that are past the due date will be displayed and the payment will reflect in the customer’s loan account on a real-time basis.

“This repayment facility is available on all KMBL terms loans such as Personal Loan, Home Loan, Consumer Durable Loan, Business Loan, Gold Loan, Loan against Property as well as Commercial Vehicle Loan, Tractor Finance Loan, Construction Equipment Loan,” it further said.

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ICICI Bank targeting to serve 20 lakh customers of rival banks through app, BFSI News, ET BFSI

Banking & Finance

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Private sector lender ICICI Bank on Thursday said 10 lakh customers of rival banks are using its mobile application for transactions. The lender expects the number of such customers, who are using the app for instant UPI-based payments and recharges, to double in the next three months, the company said in a statement.

Its head of digital channels and partnership Bijith Bhaskar said the bank is using NPCI’s interoperable infrastructure to serve customers of other banks as well through its app called “imobile pay“.

Users like the ‘Pay to Contacts’ feature the most. The functionality enables users to send money either to a mobile number or a UPI ID of their friends/contacts, to any payment app or a digital wallet, it said.

Metros like Mumbai, Delhi, Bengaluru, and Chennai have contributed to the additions, while other large cities like Pune, Hyderabad, Ahmedabad, Jaipur, Lucknow, Patna, Indore, Ludhiana, Bhubaneswar, Guwahati, Agra, Kochi and Chandigarh have also contributed significantly to the growth of the number of users, it said.



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