Karnataka Bank became one of the first to launch its mobile application which is designed to accomodate the newly launched Unified Payments Interface (UPI) today.
The mobile app which is named “KBL-SMARTz” is built on the UPI platform of the National Payments Corporation of India (NPCI) which will enable customers to pay and collect money from their smartphones without entering any bank account number.
The mobile app can now be downloaded free of cost from google playstore, said the company.
Fund transfer without revealing the personal details like mobile number, account information and aadhar number ,a key feature of the UPI, is incorporated in the app, the company added.
Earlier in the day the NPCI announced the launch of the UPI platform initially with 21 banks.
The NPCI had also added that all the banks have been asked to rollout the mobile applications in the next two days.