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. PTI AA IDFC Bank to enter key metros

Mumbai: Private sector lender IDFC Bank has said it is targeting to open more branches in the metros in the coming time for a better balance its geographical spread.

Only 17 of the lender’s 100 branches are in the metro cities at present, it said in a statement.

“The bank plans to expand its branch network in the metros in the next one year, for a balanced presence in the metros, urban and rural geographies,” it said, adding that its count of metro branches alone will be 100. It, however, did not give a timeline on the same.

It opened its 100th branch earlier this week at in Davanagere district of Karnataka. PTI AA Lenden Club raises Rs 3.5 cr

Mumbai: In what enables it to meet the Reserve Bank’s minimum capital requirements, peer-to-peer lending platform Lenden Club has raised Rs 3.5 crore in capital from an investor whose name the company did not disclose.

The investment round was led by an Indian venture capital fund which does not want to be named, a spokesperson for the company said.

Three existing investors including Anirudh Damani, Daud Ali and Narendra Karnavat also participated, he said. PTI AA BEN