Now, buy mutual funds on Paytm Money using UPI payments; check details

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Updated: December 13, 2018 5:31:18 PM

Paytm Money, Paytm Money, mutual investment products, patym, mutual fund schemesPaytm Money will offer mutual fund schemes in direct plans that come with lower expense ratios, it added.

Paytm Money has come out with a new facility for investors. Now, they can buy mutual funds by just using Unified Payments Interface (UPI) based payment mode on the on Paytm Money app. “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, Paytm Money.

However, the investors can still continue to invest in SIPs and other investments through Auto-Pay facility which links 190 banks through automated e-mandates and net banking, Paytm Money said in a statement. Paytm Money offers only direct plans of mutual funds.

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Meanwhile, last month, Paytm said that it would settle payment with merchants either immediately or at a time desired by them. “Earlier, we offered next-day settlement to our partner merchants. They can now enjoy instant and on-demand settlement into their bank accounts via Paytm,” Paytm Chief Operating Officer Kiran Vasireddy had then said in a statement.

The company introduced an ‘instant bank settlement’ option in ‘Paytm for Business’ app in which the merchants can choose their preferred time to settle the payment collected or can also do an instant settlement as and when they want, directly into their bank accounts. The merchants can also track all their payments and settlements on a real-time basis, Paytm had said.

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