ETMONEY has launched its new SIP payment feature based on Aadhar, to serve the largest section of the country and make investment accessible and seamless. This feature will allow the user to setup the automatic payments using an OTP verification using Aadhar.
The hassle of remembering password and failed login attempts have made digital banking face much obstruction in a country like India.This has caused a low success rates in creating payment mandates in SIP through bank accounts. The simple OTP based Aadhar authentication system will cater to a wide range of investors by making online investment accessible and hassle free.
ETMONEY’s latest innovation is a step forward in its vision to make India financially stronger. And this Aadhar-linked SIP payment mandate will enable more Indians to invest regularly via SIPs, promoting better financial discipline amongst the masses.
Speaking on the latest Aadhaar-based SIP set up, Founder-CEO Mukesh Kalra said, SIPs work best for investors who automate the payment towards their monthly investments. And we want to help all those Indians who find using their bank’s internet banking cumbersome by providing them an option to set up their SIP mandates easily through their Aadhar linked bank accounts. We are confident this will go a long way in taking online investments to that section of Indian society who are still not a part of digital banking services.”
ETMONEY is India’s largest app for financial services that is simplifying the financial journey of new-age Indians. Consumers use ETMONEY to invest in zero-commission Direct mutual funds for free, save for their retirement with NPS, protect their families with unique Insurance solutions & use ETMONEY Credit Card to take instant loans at low-cost. Growing at 350% yearly, combined with multiple innovative solutions, it has grown to 8Mn users from more than 1300+ Indian cities and is driving more than $500Mn of non-payment annual transaction volume on its platform.