UPI Introduces ‘Pay With Mutual Fund’ for Instant Transactions:
India’s Unified Payments Interface (UPI) has launched a new feature — ‘Pay with Mutual Fund’. This allows users to make real-time transactions directly from their liquid mutual fund holdings, eliminating the need to transfer funds to a bank account first. Backed by ICICI Prudential AMC, Bajaj Finserv AMC, and fintech startup Curie Money, the feature marks a global first in retail financial technology innovation.Pay with Mutual Fund’ is a revolutionary UPI feature that lets investors use their liquid mutual fund units like a digital wallet. When a UPI payment is made, the equivalent amount is automatically redeemed from the mutual fund, and the transaction is processed instantly. This effectively transforms mutual funds into payment-ready assets, bridging the divide between investment and everyday expense.
