Reported by: banking|Updated: October 23, 2017
Kotak Mahindra Bank and Samsung India have decided to expand the Samsung Pay platform for the bank’s Visa credit and debit card holders. The customers of the bank can now tap and pay using their Samsung smartphones at merchant outlets having card acceptance machines. This will be in addition to other digital means of transactions that the bank has – UPI, Bharat QR Code and One Time Fund Transfer on the bank’s mobile banking platform. Samsung Pay will further strengthen Kotak’s digital savings account product 811 by enabling the virtual debit card for contactless payments. Samsung Pay works on 2.9 million PoS card machines across the country and is currently available on a wide range of Samsung smartphones, enabling consumers to make in-store payments without the need for a physical card. Samsung Pay is available on Galaxy Note8, Galaxy S8, Galaxy S8+, Galaxy S7 edge, Galaxy S7, Galaxy Note 5, Galaxy S6 edge+, Galaxy A5 (2016), Galaxy A7 (2016), Galaxy A5 (2017), Galaxy A7 (2017), Galaxy A9 Pro and Galaxy J7 Pro.