Send and Receive money among Facebook Friends : KAYPAY :Kotak Mahindra Bank

Kotak Mahindra Bank has started Fund transfer between Facebook Friend.All you need to have a Facebook account and a BANK account. User need to register on www.kaypay.com using Facebook account
Follow this step to transfer fund within your Facebook friend

1)Log-in using Facebook account
2)Search for the Kaypay app and click to reach the launch page of the app
Agree to the terms & conditions laid by Kotak Mahindra Bank for using the app and 'Allow' it to access your Facebook profile content
3)Take the next step to register your bank account
Once the registration process is complete, you can easily transfer money to your Facebook friends
Steps for transferring money:
1) A friend from your Facebook list, to whom you wish to transfer the money
2) Select your account from which you want to transfer funds. If you have more than one account, your default account number will be pre-populated
3) Enter the desired amount
4) You can choose to add a message for your friend
5) Enter the One Time Password, click here to know how to generate an OTP
6) Confirm the transaction
You can transfer funds to anyone on your Facebook friend list.All your unregistered friends will get a Facebook notification informing them of the money transfer. They will have to register their bank account with Kaypay in which they want to receive the money. If they don't register within 48 hours, the money will be credited to your account.There is no Charges for FUND Transfer as of now.

Limits For Sender(in Rs) For Recipient (in Rs)
Daily               2500                      25000
Monthly       25000              25000