The UPI AutoPay Mandate for SIP registrations has been launched, as stated by Mirae Asset Mutual Fund. In order to assist Mirae Asset Mutual Fund investors in registering a SIP mandate utilizing the UPI AutoPay function, KFintech, BillDesk, and Mirae Asset Mutual Fund have collaborated to launch this project. According to the fund company, it streamlines the entire investing process by cutting down on investment time and enhancing the overall investment experience.
Real-time SIP mandate setup and investing are made possible by Mirae Asset Mutual Fund’s UPI AutoPay service. Owing to the widespread acceptance of UPI as a payment method, this service makes the SIP capability dependable and easily accessible to a big consumer base.
The Unified Payments Interface (UPI AutoPay) transactions of Mirae Asset Mutual Fund seek to break records each month as digital payments become more common in India.
Regulations up to Rs 15,000 (fifteen thousand) can be generated via UPI AutoPay, according to the current NPCI restriction. According to the most recent data available from AMFI as of September 30, 2023, the average size of a SIP ticket is Rs 2250. The monthly industry book size is Rs 16,042 crore, and there are 7.12 crore SIP accounts.
