Karnataka Bank has launched “KBL-SMARTz,” a mobile application built on Unified Payments Interface (UPI) platform of National Payments Corporation of India (NPCI), an umbrella organization for all retail payments system in India.  UPI is a new initiative from NPCI in digital payments ecosystem. The interface is designed to enable customers across UPI member banks to pay and collect money from their smartphones without entering any bank account information.

•  Launching the product, P Jayarama Bhat, MD and CEO of the bank said, “KBL -SMARTz” is a user-friendly universal mobile app, through which users can perform transactions on the go.

• “KBL-SMARTz” is the secure mobile app for rapid transactions,“KBL -SMARTz” App is available to public free of cost and can be downloaded from the Google PlayStore. Fund transfer can be done using a virtual payment address without revealing personal details.

• It enables a user to add accounts of different banks to pay and collect funds across Bank accounts, making it a universal app for payments. Customers of any UPI member bank can use the facility. Transactions can be done with one click 2FA (two-factor authentication.)

•  The app facilitates non-financial transactions such as balance enquiry, setting ones M-Pin, and so on. Dr Raghuveer Adiga, the bank’s customers’ service committee members and other senior executives were present.