UTI Mutual Fund has launched an Interbank Mobile Payment Service (IMPS), a new online payment facility for its investors for buying mutual funds online.
IMPS offers an instant, 24X7 interbank electronic fund transfer service through mobile phones. IMPS facilitates customers to use mobile instruments as a channel for accessing their bank accounts and making interbank fund transfers in a secured manner with immediate confirmation features.
“UTI Mutual Fund currently offers its investors an online investment facility which enables them to purchase, redeem, switch units and register for systematic investment plans using the internet banking platform and visa debit cards. In addition to this we are now offering our investors an option to invest through IMPS. It is our endeavour to leverage technology and provide investors with an additional medium to invest,” said Imtaiyazur Rahman, Acting CEO, UTI Asset Management Company Ltd.
The key objective of providing the IMPS facility is to make payment simpler with just the mobile number of the investor being registered with his bank. This service can be utilised through internet also and not restricted to mobile phones only.
