Now, pay UTI investment via Visa, SBI cards

Asset management firm UTI Mutual Fund has tied up with electronic payment solutions provider Visa to provide online payment facility for its investors.

Under this facility, a UTI MF investor can pay directly through his Visa-powered debit cards or SBI debit cards, the fund house said in a statement here today.

"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," UTI MF group president and chief marketing officer Jaideep Bhattacharya said in the statement.

UTI MF currently offers its investors online investment facility to purchase, redeem, switch units and register for systematic investment plans (SIPs) using online banking platform.

"With UTI MF, we are now strengthening the acceptance network within the mutual fund category, and are confident we will be able to help many investors experience the benefits of digital currency while purchasing their mutual funds," Visa Group country manager for India and South  Asia Uttam Nayak said in the release.

The AMC, which is jointly owned by public sector banks and American investment management firm T Rowe Price currently manages assets worth Rs 69,105 crore as on June 30, according to Amfi data.