- This will help customers to set up their mutual fund SIPs in three steps namely selecting the fund, entering monthly SIP (Systematic Investment Plan) investment amount, and authentication with a UPI PIN.
- The introduction of UPI based AutoPay functionality for MF SIP will help PhonePe to offer an excellent end-to-end customer experience.
- The function of SIP through UPI AutoPay is available for all existing and new investors on the PhonePe app.
- To avail of this, users are supposed to click on the ‘Start a SIP’ icon in the investment section on the PhonePe app homepage. Then they can select their investment style and duration of the investment.
- Further, the user can select a fund, enter the monthly investment amount and then authenticate UPI pin for regular investments.
- Static Part:
- HQ of PhonePe: Mumbai
- CEO of PhonePe: Sameer Nigam
- The AutoPay feature was introduced by NPCI in 2018 to allow customers to set e-mandates through UPI app.
