Kotak Kay Pay – Revolves around IMPS Merchant Service
The tag line of Kotak Kay Pay is “Still
paying in cash? Pay the kaypay way.”
Kotak
Kay Pay rides on the NPCI’s IMPS Merchant Payment architecture.
The
beauty of KKP is that it does not require the sender nor the receiver to have a
Kotak Bank Account.
The sender’s bank should be on IMPS
Merchant Service. Merchant needs to get on-board IMPS network with one Bank. In
this case KKP is the merchant.
Customer of any Bank in the IMPS merchant
network can make payment to merchant through IMPS.
11 key attributes
of KKP
01) Built
around IMPS, hence facility available 24*7, 365 days a year.
02)
Facility
restricted to account holders participating in NPCI IMPS Payment service with Merchant
Initiated Payment (P2M) pull service.
03)
Additionally
the customer should have Facebook account or Google+ account or Email account and active mobile number
04)
Bank
account details have to be registered in the KKP App
05)
In
case the receiver does not register his Bank account details in KKP within 48
hours, the funds will be reversed back to the sender.
06)
Customers
have to adhere to the limit set by their respective Bank for making the
transfer under IMPS Merchant Pay services.
07)
Transactions
charges are defined from time to time.
08)
No
concept of transaction Stop Pay.
09)
Click
here for Kotak Kay Pay landing page.
10)
Do
remember to disable the beneficiary account in case you do not wish to transfer
funds in future.
11)
Enjoy
the delight of Safe eTransasctions
Comments
Post a Comment