Investors Alert! Now, buy into mutual funds schemes via Paytm Money; here is how
In what comes as a good news for mutual fund investors, they can now invest their money using UPI on Paytm Money.
In what comes as a good news for mutual fund investors, they can now invest their money using UPI on Paytm Money. In a press statement released on Thursday afternoon, Paytm Money said that customers will be offered highest levels of trust and safety while investing through the platform. It said that investors can continue to invest using SIPs and 1-tap investments through Auto-Pay with over 190 banks via automated e-mandates and Net Banking.
"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," the statement from Paytm said.
Pravin Jadhav, Whole-time Director of Paytm Money, said that the company is excited to offer the convenience of UPI to the mutual fund investors through its platform. "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," he said.
Experience faster investing like never before with UPI payments!
— Paytm Money (@PaytmMoney) December 13, 2018
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. The 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.
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 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. The app was launched earlier this year and allows customers to buy and sell mutual funds and managed portfolio from their smartphones.