Kotak Mahindra Bank Debit Cards, Credit Cards users alert! Update on making payments, bills



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Kotak Mahindra Bank on Wednesday announced that its VISA debit and credit cardholders can now make payments via the Google Pay mobile app. Using a process called tokenisation that hides sensitive card information, Kotak customers can now link their Kotak debit and/or credit card to Google Pay and then seamlessly and securely digitally transact using their mobile phones across different payment platforms.

“Not only is this process highly secure, but also very convenient as cardholders now do not need to enter their card information for every transaction, transforming the end-user experience,” Kotak Mahindra Bank said.

“Under this value proposition, Kotak customers can now use their Kotak VISA debit and/or credit cards to make payments virtually via Google Pay. Put simply, sensitive card information such as the card number, expiry date, CVV etc. is replaced with a ‘token’, and this token gets used for processing payments

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Ternio, Visa Team Up For Crypto Payments

Not all that long ago, bitcoin was shorthand for cryptocurrencies, and crypto was shorthand for speculation, for a “Wild West” of lightly regulated coins and tokens whose main functions seemed to be making and losing fortunes in a single trade – and paying for purchases on the dark web.

Today, there are thousands of cryptocurrencies, but their use in a real-world setting has seen slow, and at times bumpy, progress.

In an interview with Karen Webster, Ternio’s Co-Founder and COO Ian Kane and Daniel Gouldman, co-founder and CEO, said the payments world is on the cusp of bringing blockchain – the rails that underpin the cryptocurrency transactions themselves – to legacy financial providers.

Bridging that tech gap, they said, will open up the digital payments ecosystem more fully to the use of cryptocurrencies, and even digital fiat currencies issued by central banks.

The

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Mastercard: Building The Modern Payments Landscape

For most consumers, change is a funny thing. It can be almost impossible to get a consumer to let go of an ingrained habit under normal circumstances. But pushed by the pressure of an unusual circumstance to do something a different way, it’s amazing how quickly a new habit can grow up in the space an old one left behind. That’s a lesson Sherri Haymond, Mastercard’s executive vice president of digital partnerships, has had the opportunity to witness professionally — and experience personally — over the past half year.

“Before [COVID-19] I was not an avid Instacart user, because I actually like going to the grocery store. I think it’s fun. There’s an element of discovery I like,” Haymond told Webster in a recent digital discussion. “But to have the convenience and the safety of delivery through something like Instacart — for me,

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Today In Payments: Banks Frame Digital Currency

In today’s top news, the Federal Reserve and seven central banks are collaborating on a framework for digital currency, and Amazon India prepares for its festive season with a $95.5 million boost. Plus, Affirm files for an IPO.

Fed, Central Banks Frame Criteria For Digital Currency

The Federal Reserve is collaborating with seven central banks and the Bank for International Settlements (BIS) to hammer out a framework for digital currency. However, Jon Cunliffe, deputy governor at the Bank of England (BoE) said that he did not think any single approach to a central bank digital currency (CBDC) would end up dominating.

Amazon India Gets $95.5M For Month-Long Festive Season

Amazon India got an infusion of 7 billion rupees ($95.51 million) in advance of the upcoming festive season, which kicks off with sales on Saturday, Oct. 17, ahead of Hindu festivals Dussehra and Diwali.

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Apple’s Next Multibillion-Dollar Business Will Be Payments, Analyst Says

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A sticker advertises Apple Pay as an accepted payment method at a restaurant.


Chris Ratcliffe/Bloomberg

Payments could be

Apple’s

next multibillion-dollar business.

That’s what Cowen analyst Krish Sankar thinks. He dove into Apple’s digital-payments business—Apple Pay, Apple Card and Apple Cash—and the analyst likes what he sees.

He thinks Wall Street is underestimating the potential of the Apple (ticker: AAPL) payments business. He writes in a research note Monday that the three elements of the business have collectively grown more than 100% year over year in recent years, and says that with the Covid-19 pandemic, “usage and penetration of Apple’s digital payments offerings have only accelerated further.”

Sankar says Apple has positioned payments as complementary to its hardware business, but that “future scaling of these services globally coupled with increasing depth and sophistication of them could position Apple as an emerging content in the fintech space.” He

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Mastercard Poised to Benefit From Shift to Digital Payments

The shift in payment space to e-commerce works in Mastercard Inc.’s MA favor because of its resilience and differentiated business model. This  includes a global payment network,  technologically advanced products and services, security and a strong brand name that is well-acknowledged by the consumers.

The COVID crisis accelerated the use of electronic modes of payment with greater adoption of digital and contactless solutions. Changing consumer trends include a preference for contactless remittances, rapid uptake of e-commerce and an increased aversion to cash, a merchant requirement to omni-channel acceptance and a need for automating B2B payments. Notably, each of these provides an opportunity for Mastercard to capitalize on.

Mastercard is pushing forward its click-to-pay service, which is a smarter and a secure way to make online payments. The company is differentiating its click-to-pay offering through an additional layer of security enabled by new data, AI and machine learning technology.

Along

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Razer prepaid Visa card lights up when you make payments

  • Gaming company Razer is launching a prepaid credit card with Visa in Singapore.
  • The card is virtual, similar to the Apple Card, but users can request a premium physical card that lights up when you make payments.
  • Razer is the latest tech company to branch out into the personal finance space, along with Apple and Samsung.
  • Visit Business Insider’s homepage for more stories.

First there was the Apple Card, now there’s the Razer Card.

Gaming company Razer just unveiled the Razer Card, a prepaid credit card it created with Visa that will be available in beta in Singapore. Razer previously announced its ambitions to build a prepaid card in partnership with the payments giant last year, but unveiled the card and beta program on October 5.

Similar to the Apple Card, the Razer Card is a virtual card that can be accessed via the company’s Razer Pay service. There’s also

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Mastercard & BFSL Launch Cards for Enhanced Digital Payments

Mastercard Incorporated MA recently extended its relation with BOB Financial Solutions Ltd. (BFSL), which is a Non-Banking Financial Company (NBFC) wholly owned by Bank of Baroda (BoB). Notably, Mastercard has been working closely with BFSL for more than 25 years and provided them with a varied range of financing solutions to assure safer and more secured digital payments. Notably, shares of Mastercard gained 0.6% on Sep 30.

The latest collaboration between Mastercard and BFSL resulted in the launch of four new credit cards, which intend to serve a wide customer base, ranging from the affluent to the ones who will be using credit cards for the first time.

Among the four credit cards, Eterna is meant for addressing the diverse needs of not only BoB’s Radiance program customers but also of other affluent customers within and outside BoB. The Swavlamban credit card intends to provide the required liquidity for low-income

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