Paytm Money introduces Register SIP Now, Pay Later' feature for MF investments
Bengaluru: Paytm Money - India's largest online platform for mutual fund investments and the wholly owned subsidiary of One97 Communications Limited that operates Paytm, today announced the launch of the industry-leading “Register SIP Now, Pay Later” feature for its users.
A vast majority of investors on Paytm Money choose to invest via SIP mode in mutual funds on its app. With this newly launched feature, all investors now have the option to start their SIPs by making the payment immediately or choosing to pay later. For users opting for this, Paytm Money sends the SIP for registration to the AMC once the first payment for the Mutual Fund scheme is made successfully.
Pravin Jadhav, Whole-time Director, Paytm Money said “Paytm Money encourages disciplined investing in mutual funds via SIPs for its investors, and we are pleased to see that more than 75% of our investors are opting for SIPs. With the ‘Register SIP Now and Pay Later’ feature investors who wanted to invest via SIPs, but, didn’t have funds at the time of registering, can now choose to make the payment when they have the required funds. Paytm Money will continue to innovate in this space with the aim to provide the best SIP management experience to its users”.
For investors who have enabled the Auto-Pay via mandates for their SIPs, the amount will be automatically invested on scheduled SIP date; whereas, investors who have opted to make payments via UPI or Net Banking will be reminded to make payments for their SIPs on the scheduled dates.
Within a few months of its launch, Paytm Money crossed over 1 Million users mark to become the largest platform for Mutual Fund investments in India. The company is fast innovating its product & technology offerings to simplify mutual fund investing experience for its users. Recently it enabled mutual fund investing via UPI, tracking of all mutual fund investments, and many features to improve the investing experience for its users.
