In order to make investment convenient for client, brokerage house Angel Broking brokerage has introduced Unified Payments Interface (UPI) in investing. Angel Broking claims to be the first brokerage house to enable UPI. UPI enables customers to transfer money from their smart phones without the need to enter bank account information or net banking user id/ password. Angel Broking’s 1 million clients will be immediate beneficiaries of this seamless process.
The brokerage house said,”With the new-age digital payments in India, Angel Broking, India’s leading retail broking firm has taken a huge step towards introducing digital payments while investing in the stock market.”
UPI can be found on the new version of Angel Broking App. Vivek Shukla, assistant director and head of product, Angel Broking said, “We have always been on the forefront to ensure advantages of latest technology reaches retail investor and now with the introduction of UPI, we have further enhanced customer experience. The traction we see on the growth of revenue from mobile is phenomenal and this convenience will help us grow even faster.”
Below are some of the features
UPI allows clients to pay from upto 46 banks
Client registration for UPI is also integrated within the app as it takes just a few seconds
Trading limits are updated instantly on using the UPI option
UPI feature in Angel Broking Mobile APP is currently available on Android Platform and will soon be extended to iOS as well.
Unified Payment Interface is an initiative by National Payments Corporation of India’s (NPCI), set up with the support of the Reserve Bank of India and Indian Banks Association (IBA). The NPCI operates the Rupay payments infrastructure that – like Visa and MasterCard – allows different banks to interconnect and transfer funds.