MAM
Yes Bank partners Eureka, launches m-comm platform
MUMBAI: Yes Bank, a private sector bank, has partnered with Eureka Mobile to launch ‘Tap to Shop’, an innovative shopping experience on Yes Pay digital wallet. Eureka Mobile, with its pioneering technology, will power this m-commerce platform partnering Yes Pay to serve deals from brands every day to over half a million Yes Pay users.
Every Yes Pay user will be eligible to receive a unique deal when they unlock their phones at a particular time in the day. If the user wishes to buy the product, they could click on the deal and place the order through the Yes Pay app. The entire ‘Tap to Shop’ experience takes just 14 seconds to complete from start to end.
Eureka Mobile’s advanced algorithm and technology helps to serve targeted, time segmented deals & offers from the app to suit the customer’s needs. Instant shopping needs to ensure seamless and quick payment option. Eureka’s out of app experience would ensure guaranteed engagement for the brand and a differentiated value proposition in an otherwise price-driven e-commerce segment. The pièce de résistance is the multi-reveal auto dissolving screen that promises to intrigue the user. Also, it would save customer time from browsing for the product and going through several clicks in the buying process.
Ritesh Pai, Chief Digital Officer at Yes Bank, said, “We will enable Yes Pay users with a faster, secure and enjoyable shopping experience. Going forward, we plan to extend the same to all our mobility solutions. The solution has been specifically designed considering the needs of millennials whose decision-making parameters are heavily skewed towards speed and on mobile-enabled platforms.”
Rahul Jaywant, founder and CEO of Eureka Mobile Advertising, said, “The launch of Tap to Shop, the fastest M Commerce Platform anywhere, is part of our technology roadmap.”
Manoj Padmanabhan, director – business Eureka Mobile Advertising, said, “We are happy to partner Yes Pay in launching this M-commerce platform.”
Building long-term wealth through compounding is a gradual process. In the early stages, it may feel like your investment corpus isn’t growing significantly. However, over time, the magic of compounding begins to show its effect. Investing requires consistency and perseverance, especially since market fluctuations can test your patience.
Mutual Funds offer a convenient feature called the Systematic Investment Plan (SIP), which allows you to invest a fixed amount at regular intervals, ensuring continuity in your investment journey. SIPs can be tailored to suit any financial goal—short-term, medium-term, or long-term.
What is a Systematic Investment Plan (SIP)?
A SIP is a method of investing in open-ended mutual funds by selecting a fixed amount and a preferred date for investment. You can start with as little as Rs 500 or Rs 250 per month (known as a Choti SIP), with no upper limit. SIPs are flexible—you can pause, modify, or stop them as needed, subject to fund house terms.
Many mutual funds also offer a Top-Up SIP option, allowing you to increase your SIP amount annually by a fixed percentage. This helps you accelerate your savings and reach your financial goals sooner.
How Does a SIP Work?
SIP investing is simple and automated. Once you set up a mandate, the chosen amount is deducted from your registered bank account and invested in the selected fund.
Key Benefits of SIP Investing
• Automated monthly investments
• Benefit from rupee cost averaging during market volatility
• Flexibility to change SIP date, amount, pause or cancel
• No need to time the market
• Participate in both market upsides and downsides
Things to Consider Before Starting Your First SIP
Before starting a SIP:
• Define your financial goals and timeline
• Assess your risk appetite
• Decide on asset allocation (equity, debt, gold, international funds, REITs, etc.)
• Choose suitable mutual funds based on your allocation
• Use SIP calculators to determine the monthly investment needed to reach your goal
Building Wealth the Simple Way
For new investors, SIPs offer a disciplined and convenient way to invest toward life goals. With a wide range of mutual fund schemes available, selecting the right fund is key to building a strong portfolio. If you’re unsure where to begin, consult a financial advisor for guidance.
FAQs
Are SIPs better than one-time investing?
Equity markets tend to be volatile. Hence, SIP offers the benefit of rupee cost averaging. This ensures that you get more units when the markets fall and less units when it rises, thereby averaging the cost per unit of your investment. In fact, SIP may reduce the risk of timing the market so that your investment can benefit from volatile markets.
How does a SIP actually work for new investors?
A SIP works by investing a fixed amount in a mutual fund at regular intervals. Once the mandate is set up, the amount is automatically debited from your bank account and invested in the chosen fund, helping you invest in a disciplined manner without tracking market movements.
Should I pause my SIP when market is falling?
Investing through SIP when markets are falling helps you accumulate more mutual fund units. Every time the market falls, your SIP buys more units. In case of negative returns, the loss you see is only notional, i.e., it will be real if you decide to sell off your holdings. Benefits of a SIP are seen over the long term when you keep investing regularly over different market cycles.
Can SIP investment be stopped and restarted later?
You can pause or stop your SIP at any time, subject to the terms of the fund house. The units you have already invested remain unaffected, and you can restart the SIP later based on your requirements.
How much amount should I invest through SIP?
The SIP amount should reflect your goals. Minimum investment amount to start a SIP may vary across Fund Houses.
What should be the ideal SIP date every month?
You can start a SIP on any day of the month, depending on the available options that vary across fund houses.
How long should I continue my SIP Investment?
Start an SIP with a financial goal in mind like buying a car or higher education of your child. The time to fulfil your financial goal should be the tenure of your SIP.
Can I make changes in my SIP investment later?
You can change the date of debit and frequency, modify the SIP amount, and also pause or stop your SIP, depending on the available options that vary across fund houses.
How do I begin?
Where you invest depends on your risk profile and investment horizon. You should consult a trusted financial advisor who can help you invest to plan for your life goals.
How can I achieve my goals using SIP?
Decide your financial goal and the amount of money you need to achieve it. Then, you can use a SIP calculator to find out the amount you will need to invest regularly to meet your financial goal.
Disclaimer:
1Past performance may or may not be sustained in future and is not a guarantee of any future returns.
Mutual Funds do not have a fixed rate of return and it is not possible to predict the rate of return.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
This is part of an investor education and awareness initiative by PGIM India Mutual Fund.
