Kotak Bank ties up with Samsung Pay

Private sector lender Kotak Mahindra Bank today said its credit and debit card holders will be able to tap and pay using smartphones at merchant establishments.

The city-based lender has tied up with Samsung, under which its cardholders will be able to tap and pay using smartphones of the Korean electronics major having the Samsung Pay acceptance machines, a bank statement said.

Samsung Pay works on 2.9 million points-of-ale card machines across the country and as part of the tie-up, Samsung Pay will further strengthen Kotak's digital savings account product by enabling a virtual debit card for contactless payments, it said.