Mumbai, July 6, 2022: Tata Mutual Fund has teamed up with CAMSPay to introduce Unified Payments Interface (UPI) Autopay for immediate SIP registration. Using this service, investors in mutual funds can use their Virtual Payment Address (VPA)/UPI handle to mandate an Autopay facility for their Systematic Investment Plans (SIPs) contributions. This makes it easy for investors and encourages savers to invest methodically through the CAMSPay platform.
Speaking on the occasion, Kashmira Kalwachwala, head - Investor Services, Tata Asset Management said, "This is one more endeavour from Tata Mutual Fund to offer ease of transactions to investors. They can now set up a SIP mandate in their UPI applications. The instruction to debit the investor's bank account will be sent on the SIP date for the immediate realization of funds in the scheme account. This ensures that the investor gets the appropriate NAV ensuring operational efficiency.”
The inclusion of the UPI Autopay option makes the process smoother and may increase investors' willingness to invest. In this process, CAMSPay's UPI AutoPay offers real-time Third-Party Payment validation (TPV) and same-day settlement; hence investors receive NAV benefits.
