Kotak Mahindra and Zeta launch multi-wallet platform for corporates

Kotak Mahindra Bank and Zeta have announced the launch of a digital platform, named Paymint, to manage multiple benefits for salaried employees.

The platform enables corporates to offer various benefits to its employees like leave travel allowances, gift cards, meal vouchers, medical reimbursements, conveyance, fuel allowances etc to maximise tax benefits for employees and optimise the claim making process. The employees can access the benefits disbursed by the Paymint platform via Zeta app, RuPay powered paymint card or using Near-field communication enabled Zeta Super Tag.

The platform makes sure that the corporates don’t have to collect and manually verify paper bills since all the verification will be done by Zeta’s support team. To allow for smooth income tax audits, all the claims will be stored digitally on Zeta’s digital drive for seven years.

Meanwhile, the share price of Kotak Mahindra Bank closed at Rs. 1,079.80, down by Rs 4.80 or 0.44 per cent from its previous closing price of Rs. 1,084.6 on BSE. The scrip opened at Rs. 1,084 and touched a high and low of Rs. 1,086.50 and Rs. 1,072.95, respectively. The stock attracted a traded volume of 46,001 shares on the BSE.