ICICI Prudential MF and Fidelity MF launches Visa Debit Card transactions

Mutual Funds | admin | July 8, 2011 at 7:39 am

ICICI Prudential Mutual Fund has launched Visa debit card transactions facility for its investors.

This feature will provide easy accessibility to investors by facilitating mutual fund purchase on their website through Visa debit cards, a company statement said.

ICICI Prudential Mutual Fund plans to introduce Visa PoS (Point of sales) terminals in seven cities including Mumbai, Delhi, Chennai, Kolkata, Bangalore, Pune and Ahmedabad offering investors the convenience of purchasing mutual fund schemes by swiping their Visa Debit card, the release said.

ICICI Prudential Mutual Fund has enabled this unique facility for investors across India in association with the ICICI Merchant Services powered by First Data across 40 banks.

Fidelity Mutual Fund today announced that it has expanded its online service offering by allowing Visa debit card holders of 27 banks to purchase Fidelity funds through Fidelity Online (www.fidelity.co.in). This “first-of-its-kind” facility in India has been enabled through the BillDesk platform. The Visa Debit Card payment facility is in addition to the existing internet banking facility which is offered to customers of about 39 banks in India.

Ms. Ashu Suyash, Country Head-India for Fidelity International said, “By allowing Visa Debit card holders to make purchases through Fidelity Online, we have taken the next step in enhancing customer choice and convenience. We are now able to give our investors greater ease in managing their Fidelity portfolios. This facility is available to all customers including advised customers.”

Some of the investor-friendly features of Fidelity Online include:
• View and transact facility
• A multi option payment gateway facility
• Completely secure site with a two-level authentication
• A number of value added tools that help you plan for your children and for your retirement.

In addition, customers can also manage multiple accounts, check valuations, compare benchmarks and update their profile. Fidelity Online also has a comprehensive Learning Centre that offers insights on investing.

Source: Economic Times and Moneycontrol.com