Kotak Bank unveils Debit Card-Based e-mandate On NPCI’s API Platform
Kotak Mahindra Bank has unveiled the first debit card-based authentication solution on National Payments Corporation of India’s e-Mandate API (Application Program Interface) platform. Kotak Mahindra Bank has become the first ever Destination Bank to go live with both Net Banking and Debit Card-based e-mandate authentication. The motive behind this is to allow Kotak customers to create electronic mandates, similar to the former e-NACH with Aadhaar + OTP via both debit card and net banking provision.
Topics: Banking , Banking in India , CNX Nifty , Debit card , Economy , Financial services , Kotak , Kotak Mahindra Bank , National Payments Corporation of India , Payment and settlement systems in India , Payment systems