Getty ImagesBENGALURU: In an effort to double its monthly user base by the end of the year, ETMONEY, India’s largest app for financial services, has integrated Unified Payments Interface (UPI) as a payment option on the application. The company hopes to simplify the user journey through the app, especially for making payments for mutual funds.
It has set a target to grow to Rs 5,000 crore in mutual fund transactions in the next 12-18 months and is targeting 10 million users by the end of the current year. ETMONEY is owned by Times Internet which is a part of the Times Group that publishes The Economic Times.
Explaining the flow for the user, Mukesh P Kalra, chief executive officer at ETMONEY, said that customers opting to pay through UPI will need to choose the payment mode, enter their virtual ID and select ‘Make Payment’. Once selected, the customer will have to authenticate the transaction through the UPI app she or he chooses which will also ensure safety of the transaction.
The UPI is enabled in both Android and Apple iOS apps of ETMONEY.
“Our integration with UPI will make it faster and more convenient for a wider section of Indians to invest and secure their lives. This is a part of our larger objective of introducing digitalfirst financial services offerings to more than 10 million users by the end of this year,” said Kalra.
ETMONEY recently crossed Rs 2,000 crore in mutual fund transactions through its platform.
The platform is adding more than Rs 150 crore in new investment transaction value every month from investors across 1,200 locations, the company said in a statement.
It has set a target to grow to Rs 5,000 crore in mutual fund transactions in the next 12-18 months and is targeting 10 million users by the end of the current year. ETMONEY is owned by Times Internet which is a part of the Times Group that publishes The Economic Times.
Explaining the flow for the user, Mukesh P Kalra, chief executive officer at ETMONEY, said that customers opting to pay through UPI will need to choose the payment mode, enter their virtual ID and select ‘Make Payment’. Once selected, the customer will have to authenticate the transaction through the UPI app she or he chooses which will also ensure safety of the transaction.
The UPI is enabled in both Android and Apple iOS apps of ETMONEY.
“Our integration with UPI will make it faster and more convenient for a wider section of Indians to invest and secure their lives. This is a part of our larger objective of introducing digitalfirst financial services offerings to more than 10 million users by the end of this year,” said Kalra.
ETMONEY recently crossed Rs 2,000 crore in mutual fund transactions through its platform.
The platform is adding more than Rs 150 crore in new investment transaction value every month from investors across 1,200 locations, the company said in a statement.
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