We Indians are getting spoilt for
choice with new ePayment Tools being introduced every week.
The latest ePayment Tool for
ePayment users is Kotak Mahindra Bank’s KayPay
KayPay was launched just before the
Diwali season. KayPay rides on NPCIs’ IMPS (Instant Payment Service) to bridge
the gap between the receiver and the sender.
The other major component ot KayPay
is Facebook. The receiver should have a Facebook
account and also authorize KayPay tool to access the complete details of the
receivers Facebook account.
Well, yes this is a social
harvesting technique but this is the price for free transactions.
To secure the transactions, KayPay’s mechanism involves a two-step
authentication process — the Facebook user ID and a one-time password.
Notification of transfer will be sent through Facebook messages and SMS.
Before the funds can be transferred,
a one-time registration of your existing bank account on Facebook or at
www.kaypay.com is required
If your bank is not on list of
KayPay participating banks, do inform them through Facebook, customer service
line, mail to customer service. Yes, you should demand
