InvestorQ : Is it true that mutual funds can now be purchased on Amazon platform?
diksha shah made post

Is it true that mutual funds can now be purchased on Amazon platform?

Answer
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Mary Joseph answered.
1 month ago


Yes, that is the latest trend wherein you can now buy mutual funds even on the Amazon ecommerce platform. Just like you buy and order products online, you can do the same with mutual fund units also. Many mutual funds platforms are tying up with Amazon to offer MF products to customers.

These transactions will be structured as UPI transactions and hence size has been limited to Rs.90,000 for accepting UPI payments on Amazon. Currently, Rs.1 lakh is the outer limit for UPI transactions. This is a new area and approach and remains to be seen if the platform can be effectively used to sell mutual funds to a large Indian population.

There is one area of dispute, as some sceptics see, in that Amazon will be offering gift cards with each investment. Therefore, the question has been raised whether such a practice of client enticement should be legitimately allowed. With Paytm also foraying into MF distribution, the Amazon platform could pose interesting competition in MF selling.