Indian mutual fund company UTI has partnered
with Visa to offer investment opportunities via debit cards.
UTI Mutual Fund’s online banking platform,
called Systematic Investment Plans, already enables clients to
purchase investments units as well as redeem or switch them.
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The deal with Visa now includes the same
features via Visa debit cards.
UTI group president and chief marketing
officer Jaideep Bhattacharya said that investments through debit
cards would “further ease the process of transacting in mutual fund
units.”
For Visa, the deal is another step in
expanding its acceptance network in India.
Visa’s group country management India &
South Asia Uttam Nayak said:
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By GlobalData “With UTI Mutual Funds, Visa is now strengthening the
acceptance network within the mutual fund category, and are
confident together with UTI Mutual Funds we will be able to help
many investors experience the benefits of digital currency while
purchasing their mutual funds.”
