In its bid to enable financial services access in the country, Bengaluru-based digital payments company Phonepe today announced a new savings product called Liquid fund.

Under Liquid Funds, instead of mutual funds, the money is invested in safer instruments such as bank and government securities.

Terence Lucien, head of mutual funds, Phonepe, said, “This is our second product in the Mutual Funds space after Tax Saving Funds where we have created a completely digital investment flow for our users.

According to Nigam, Phonepe has shifted its focus from giving cashback to providing merchant coupons, which has helped Phonepe to monetise its platform.

Through distributing financial services, Phonepe earns a distributor fee from the companies. | To read full story, visit https://startuparound.com/read/1578470406.5723703/Phonepe-Savings:-Now-Users-Can-Save-Via-Liquid-Fund?ref=audio_experience