Motilal Oswal Asset Management Company (AMC) launched its WhatsApp transaction platform for new as well as existing investors. It is the first of its kind initiative by any fund house in India to do mutual fund transactions through the popular cross-platform messaging app, the company cited.
This is a standalone feature wherein the customers can use their WhatsApp window to complete the mutual fund purchase. The investor through his/her registered number can initiate a transaction in Motilal Oswal MF funds just by typing a salutation. Further interaction makes it very easy for the customer to buy a fund of his/her choice from MOAMC’s bouquet of funds.
The customer can complete the entire process in less than two minutes and gets an instant transaction confirmation through the medium. The investor can make the investments either in a lump sum or through systematic investment plans (SIP).
Motilal Oswal AMC launches Whatsapp transaction.
“Offering transactions on WhatsApp is our effort to try and be present wherever our investors might find it easier and convenient to be able to deal with us," said Aashish Somaiyaa, MD and CEO at Motilal Oswal AMC.
The fund house further plans to introduce more features that will help customers access their account statements along with addressing their service requirements needs.
The feature is not a part of WhatsApp Pay and is different from using it as a payment channel. Here are the steps by which one can invest via WhatsApp:
1- Add Motilal Oswal AMC number (+91 9372205812) in his/her contact list.
2- Get on to WhatsApp, and then type ‘Hi’ on the above number.
3- From there on the journey is built in such a way that the customer continues with subsequent instructions on the mode of investment, fund, amount etc after sharing the PAN details.
4- Post this, the customer is sent a payment link where the customer goes to his bank account & authorises payment for the transaction.
Besides WhatsApp, the customers can continue to invest in mutual funds through Motilal Oswal’s website and mobile app. They can also invest through third-party investment apps like Paisa Baazar and Patym Money.
Here’s a step-by-step guide for using WhatsApp to make mutual fund transactions:
1. Add Motilal Oswal AMC number to your phone’s contact list. According to the website, the number is +91 9372205812.
2. Go to WhatsApp and open the chat window for this number.
3. Type 'Hi' and send.
4. From there on, you will be guided by a representative on what to do next.
5. You might be asked to provide some details like name, date of birth and PAN card number.
6. After sharing the details, you might be asked to share the name of the fund you want to invest money in, amount to be invested and mode of payment etc.
7. In the end, you will be sent a payment link through which you can go to your bank account and authorise payment for the transaction.