PhonePe Launches UPI-based AutoPay for Mutual Fund SIP Investments
All existing and new investors on the PhonePe app can invest in the SIP using the UPI AutoPay
PhonePe, India’s largest digital payments company, announced the launch of UPI-based AutoPay functionality for its mutual fund investment offerings that will allow its customers to set up their Mutual Fund SIPs in just a few seconds. This makes PhonePe the first digital investment platform to introduce this feature in the country.
With UPI Autopay, PhonePe customers can set up their SIPs in just three steps: Select Fund, Input Monthly SIP Investment amount, and authenticate with UPI PIN making it a first of its kind experience for millions of users across India. It also furthers PhonePe’s vision to continually enhance the end-to-end customer experience while catering to their needs in building the investment portfolio of their choice. The SIP through the UPI AutoPay option is available for all existing and new investors on the PhonePe app.
How to set up UPI AutoPay for Investments on PhonePe
Click on the ‘Start a SIP’ icon in the investment section on the PhonePe app homepage. Choose your investment style (from conservative/moderate/aggressive) and duration of investment (short/medium/long term). Select a fund and enter the monthly investment amount and enter your UPI PIN to set up regular investments
Customers can also access the UPI Autopay feature when they opt for monthly SIPs through any of the Mutual Fund investment options available on PhonePe.