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Banks plan using social networks for instant fund transfer

Wed, Oct 15, 2014, 10:43 AM
Money transfer has become easy after the advent of e-banking. But now Banks are even trying to adopt Social networks for instant fund transfer. For this, banks are trying to get in agreement with those sites. Kotak Mahindra Bank is going to start Facebook money transfer. Those who don't have account also can transfer money and receive money by this method. Through NPCI network on IMPS platform, these services are provided by Kotak bank. 28 Banks in India come under IMPS platform and a person having account in any of these banks can do FB money transfer. They just have to register their details on Kpay website.
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