Paytm Money enables ‘UPI Payment’ facility for Mutual Fund Investments
Mumbai : Paytm Money – India’s largest online only platform for Mutual Fund investments & the wholly owned subsidiary of One97 Communications Limited which owns the brand Paytm, today announced that its investors can now make mutual fund investments using UPI based payment mode on the app.
With every UPI payment authenticated against the user’s verified bank account, UPI based investments on Paytm Money offer the highest levels of trust and safety. Along with UPI, investors on Paytm Money can still continue investing in SIPs and 1-tap investments through Auto-Pay with over 190 banks via automated e-mandates & Net Banking
“As UPI based payments continue to witness massive adoption across all forms of online transactions, we are very excited to offer the same convenience of UPI to the mutual fund investors via Paytm Money,” said Pravin Jadhav, Whole-time Director of Paytm Money.
Paytm Money is fast innovating its product & technology offerings to enhance & simplify the mutual fund investing experience. The company has partnered with 32 AMCs (Asset Management Companies) covering over 94% of industry AUM of the Mutual Fund industry. The company has also tied up with leading rating services – MorningStar, CRISIL and Value Research to ease the investment decision-making process.
Paytm Money offers only direct plans of mutual funds that come with lower expense ratio due to zero distribution fee or commissions which in turn gives investors a better return on
Investments. Users can start investing in mutual funds with as little as Rs.100 via SIPs (Systematic Investment Plan) in some schemes or with higher amounts via lump sum mode. This investment service is completely free for the users.
Paytm Money is headquartered in and operates from Bengaluru, its 150+ member team is led by the company’s Whole-time Director – Pravin Jadhav. Paytm Money aims to become a full-stack investment & wealth management services company.