Use Credit Cards To Purchase Fund Units


Use Credit Cards To Purchase Fund Units

Fund houses have been very busy bees recently, with one expanding on the amount of other choices there are for making payments, making it easier for consumers looking to make mutual fund investments.

Some of the bigger business fund houses are creating services that mean credit cards and mobile payments can be made to help out mutual fund investments.

“At least two players are almost ready to offer payments via credit cards,” said M N Srinivasu, director of BillDesk, which runs the payments channel for mutual funds as well as a number of other businesses

The main thing slowing the whole process down has been the fact that mutual funds have not been able to undertake credit card payments, as they would need to pay 2% to credit card company’s per transaction.

They were previously trying to convince the credit card industry to lower their costs in consideration of the number and values of payments that would be involved.

Currently the credit card payment cannel is only accessible to specific life insurance companies.

Catherine is an author of several articles pertaining to Credit Cards. She is known for her expertise on the subject and on other Business and Finance related articles.

Use Credit Cards To Purchase Fund Units / Author: Catherine Moody