Tata MF, CAMSPay launch UPI AutoPay facility for SIPs

NEW DELHI: Tata Mutual Fund has teamed up with CAMSPay to introduce Unified Payments Interface (UPI) Autopay for immediate SIPs. Using this, investors in mutual funds can use their virtual payment address (VPA)/UPI handle to mandate an Autopay facility for their Systematic Investment Plan (SIP) contributions. 

 “This is one more endeavour from Tata Mutual Fund to offer ease of transactions to investors. They can now set up an SIP mandate in their UPI applications. The instruction to debit the investor’s bank account will be sent on the SIP date for immediate realization of funds in the scheme account. This ensures that the investor gets the appropriate NAV ensuring operational efficiency," said Kashmira Kalwachwala, Head - Investor Services, Tata Asset Management Pvt. Ltd.

The inclusion of UPI Autopay option makes the process smoother and may increase investors' willingness to invest. In this process, CAMSPay’s UPI AutoPay offers real time Third Party Payment validation (TPV) and same-day settlement hence investors receive NAV benefits.