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Kotak Mahindra Bank launched Kotak Remit for mobile
February 16, 2021
Kotak Mahindra Bank on Monday reported the launch of its outward forex remittance service, Kotak Remit, on mobile that will permit clients to send cash to another country directly from their cell phones.
The outward forex remittance solution is live on the Kotak Mobile Banking App. Unexpectedly, Kotak clients can advantageously move cash universally to their recipients directly from their mobile, Kotak Mahindra Bank said in a release.
The private sector moneylender said that it is an industry-first move, and clients won’t need to furnish any physical documents for transactions up to USD 25,000 or identical flawlessly to permissible geographies across the world.
‘The mobile has been at the centre of a revolution of sorts and it has changed the manner in which we bank, invest, shop and pay.
Phani Shankar, President and Co-Head Treasury and Global Markets, Kotak Mahindra Bank said, “With the launch of Kotak Remit on mobile, we have entered another period of digital transformation enveloping worldwide payments, which gives our clients the benefit of betting on mobile for making global fund transfer as well”.
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