Financial services app ETMoney announced that it has integrated Unified Payment Interface (UPI) as a payment method on its platform as it looks to double its monthly user base by the end of the year. The integration of UPI will simplify the mutual fund payment experience for millions of ETMoney users as the company continues its journey to simplify the financial lives of new age Indians.
Users making payments on the ETMoney app will now be shown the UPI option on the payment page. They can select from a list of UPI-enabled apps installed on their phone including Google Pay, BHIM UPI and PhonePe among others. Once they enter their valid UPI ID and tap on â€˜Make Paymentâ€™, theyâ€™ll have to authorise the payment from the respective UPI-enabled app. The transaction would then be processed instantly. In addition to this new payment feature, the platform will continue to support payments through Netbanking and Debit Card.
â€œOur integration with UPI will make it faster and more convenient for a wider section of Indians to invest & secure their lives. This is a part of our larger objective of introducing digital-first financial services offerings to more than 10 million users by the end of this year," said Mukesh P Kalra, Founder & CEO of ETMoney.
ETMoney recently crossed the landmark of Rs 2,000 crores of money invested in Mutual Funds through its platform. It is also adding more than Rs.150 Crores in new investment transaction value every month from investors across 1,200 cities. The company is aiming to grow to Rs 5,000 crores in mutual fund transactions in the next 12-18 months, reaffirming its position as Indiaâ€™s largest digital-first financial services platform.