UTI launches new online payment facility

Company Brief

Mumbai, August 22, 2011

UTI Mutual Fund launches a new online payment facility for its investors for purchasing units using their Debit Cards. For implementing this facility, UTI Mutual Fund (UTI MF) has partnered with Visa Cards.

UTI MF 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. In addition to this, UTI MF is now offering its investors an option to invest by using their Visa enabled Debit Cards and SBI Debit Cards.

Mr Jaideep Bhattacharya, Group President and Chief Marketing Officer, UTI AMC said, "UTI MF endevours to provide the best of facilities to its investors. We have led several innovations in improving accessibility of our products and services to our investors. The facility of investing through debit cards will further ease the process of transacting in mutual fund units.

Mr Uttam Nayak, Group Country Manager - India & South Asia, Visa said, "Visa continues to expand the electronic payments acceptance network in the country. We are proud to have always taken the first step towards opening new segments and channels where cardholders can use the convenience, reliability and security of transacting on their cards. With UTI Mutual Funds, Visa is now strengthening the acceptance network within the mutual fund category, and are confident together with UTI MF we will be able to help many investors experience the benefits of digital currency while purchasing their mutual funds."

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