Powered by Yes Bank, FundsIndia becomes the first online mutual fund distributor to support UPI for client payments, offering instant processing of payments.
As FundsIndias UPI integration supports 58 banks, a wider customer base can now take advantage of the technology.
To start using UPI as a payment option, one needs a Virtual Payment Address (VPA). Backed by YES BANKs engine, FundsIndia investors can create their own VPA on the FundsIndia Android app. This VPA can be linked to a bank account held by the customer from any of the 58 supported banks.
FundsIndia has plans of launching UPI on their iOS platform too.
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