India’s largest app for financial services, ETMONEY announced today 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 ‘Make Payment’, they’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.
“Our 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 India’s largest digital-first financial services platform.
ETMONEY is India’s India’s largest app for financial services that is simplifying the financial journeys of new age Indians. Available on both Android & iOS, consumers can use ETMONEY app to manage all aspects of their money automatically, invest in zero commission direct mutual funds of 25+ mutual fund companies for free & take loans starting from Rs.3,000 upto Rs.20 Lakhs in a paperless manner. In the last 18 months, through multiple innovative solutions, it has grown to 40 Lakh users from more than 500+ Indian cities and driving more than $ of annual transaction volume on its platform.