You can now keep all your investment woes aside. ICICI Securities Limited (I-Sec) has announced that it will be using the path breaking Unified Payment Interface (UPI) system as its new payment mode. This mode will enable quicker and more efficient investing.
The UPI service will open up new payment avenues as well as previous payment modes such as the linked ICICI bank account, Net banking and OTM.
Mr. Hariharan M, Sr. VP – Products Advisory Group, ICICI Securities, said, “We are confident that the customers will find this new feature very useful as UPI has emerged as a leading payment option for millions of Indians for their everyday transaction and now they can invest in MFs also through this. Going forward, we aim to extend this facility to other non-equity products online as well“.
The great part about this service is that I-Sec customers can now register up to 3 Virtual Payment Address – VPA (an ID, which a user creates by linking their accounts to their bank or BHIM mobile app) from various bank accounts while also investing lump sum amounts or setting up systematic plans like Systematic Investment Plan (SIP) or targeted plans like Target Investment Plan (TIP) available on icicidirect.com.
