Facility for free transfer of funds for Facebook friends!
Posted on: 13/Oct/2014 4:11:02 PM
There are around 25 Crore Indians using Facebook.
Kotak Mahindra has introduced a facility though which these Facebook users can transfer funds to each other.
A person desiring to transfer funds to his/her friend will have to enter the website ‘kaypay’ and open an account. Through this, the amount of money can be transferred from any bank account needs to be specified.
Even if the receiver is not a member of the ‘kaypay’ account, he/she will realise the transaction immediately. If he/she is a member of ‘kaypay’ account, the transaction will be even faster.
It is noteworthy that no payments need to be made from both the sender & the receiver.
It is expected that the transaction will be very safe & secure involving 2 items of details to be checked.
These transactions will be carried out and monitored by IMPS (Immediate Payment Service) which is operating the Mobile Banking System approved by the Reserve Bank of India.
A maximum of Rs. 2500/- can be made in a single transaction. An individual can transfer a maximum of Rs. 25000/- in a month. Similarly, the receiver can receive up to a maximum of Rs. 25000/- per month.
