How Grip’s AMO 2.0 Makes 24/7 Investing Easier

Introduction

The fixed-income market in India is amongst the largest in Asia. In FY24, investment in corporate bonds increased by 15%, touching a record high of INR 9.8 lakh crore.

While institutional investors and large family offices have been powering this growth, retail investors are benefiting from the rise of SEBI-regulated and easy-to-operate online bond platform providers (OBPP). 

1. Investment orders could only be placed during market hours, i.e., weekdays, 9 am - 5 pm. This overlaps with office working hours. 
2. While payment could be made via UPI or NEFT/ RTGS, only a limited number of banks were available on Net Banking.
3. Furthermore, Net Banking transactions attract a payment gateway fee of INR 15.

Recognising the need for a smoother investment experience, NSE recently announced an Open Payment Gateway Architecture Policy that addresses these user concerns. With ‘Innovation’ and ‘Customer Obsession’ as core pillars at Grip Invest, we are honoured to be the 1st OBPP platform to make these benefits available for you. 

What Is Changing For Investors

1. You can place an investment order even after market hours, on weekends, and on public holidays.
2. Pay right away via our RBI-regulated payment gateway partner. Both your order and payment will be settled with the NSE automatically.
3. No charges on net banking for AMO orders. Earlier, up to INR 15 was charged as payment gateway fees, which is now nil.
4. Net banking is now available with 39 banks compared to 13 banks earlier.

In a few days we will be bringing these enhancements, especially around net banking, also to normal market hour orders. 

Scroll below to see a step-by-step guide on making an investment. The process remains the same during and after market hours. Only the settlement date changes. 

1. Placing An Order

1. Visit the assets page of Grip Invest to select your preferred investment.
2. Proceed to the checkout page after determining the number of units you want to purchase.
3. Choose your preferred payment mode as depicted below:
   

2. Making The Payment 

Select the payment mode and click ‘Pay Amount.’ You will be redirected to Cashfree, our payment gateway partner, who is onboarded with NSE.

2.1 If The Selected Payment Mode Was UPI

1. Choose your preferred UPI ID or scan the QR code.
2. On clicking ' Pay Now,' you will receive a payment mandate on your UPI app.
3. Approve the payment on your UPI App.

2.2 If The Selected Payment Mode Was Net Banking

1. If you select Net Banking as the preferred payment mode, you will be redirected to your bank’s secure Net Banking page. 
2. You need to authenticate the payment by filling in your banking details and transaction OTP. 

2.3 If The Selected Payment Mode Was NEFT

Placing an order via NEFT is a two-step process. You can place an order on day one but need to make the payment on the settlement date. Here’s how you can do the same:

1. When you select NEFT for payment, you will receive the following pop-up:

2. If you click ‘Proceed’, your order status will change to ‘Placed with Exchange’ on the same day (T). 

3. If you place the order before 5 pm, you need to make the payment on T+1; otherwise, you need to make the payment on T+2 by 2 pm.

Note: Please do not pay before the settlement date. If you do, your order will get automatically cancelled, and payment will be refunded.

4. If a beneficiary account has not been added, you can do so by clicking ‘Add Beneficiary Account’. This is a one-time activity. Since the bank takes time to approve the beneficiary and there is a cooling period, we suggest adding the beneficiary as soon as you place the order.

5. You will receive a payment reminder from Grip Invest on the settlement date.

3. Receiving Order Confirmation

3.1 Payment Successful

Once the payment is successful, you will receive the ‘Payment Received’ notification. If your order is placed within market hours, it is placed with the Exchange at the same time. After-market-hour orders will be placed with the Exchange when the market opens next. 

Here, you can cross-check your order details and proceed to ‘View Portfolio’. 

3.2 Payment Response Delayed From Payment Gateway

1.  In the unlikely event of a delay in payment confirmation, you will receive a ‘Payment Status Awaited’ notification. 
2. You need not worry, as we will update you with the status within 15 minutes. 

3.3 Negative Payment Response
Sometimes your payment may not be received due to any of the following reasons:

1. If the payment is made from an account not registered with us as part of your KYC.
2. Insufficient balance or transaction limit reached.
3. You have not completed the payment on the payment gateway.

If your payment is debited from your account, you can escalate the issue by clicking ‘Escalate’. This will send an email to the payment gateway with a copy to your registered email ID.

Once you escalate the issue, you will receive the following notification. 

You can sit back as your money will be refunded to the source account within 5-6 business days. If you want to complete the payment process, you can click ‘Back to Checkout’ and proceed again.

Conclusion

Fixed-Income securities are a growing favourite for investors considering the growth potential appended with the evolving regulatory reforms. Grip Invest has always been at the forefront of technological advancements to ensure our commitment to being an ‘investor first’ platform. From a seamless customer digital interface to ensuring transparency to enabling access to regulated, curated investment opportunities for you. Visit Grip Invest and discover the latest debt investment opportunities!

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Happy Investing!

Disclaimer - Investments in debt securities/municipal debt securities/securitised debt instruments are subject to risks including delay and/ or default in payment. Read all the offer related documents carefully. The investor is requested to take into consideration all the risk factors before the commencement of trading.
This communication is prepared by Grip Broking Private Limited (bearing SEBI Registration No. INZ000312836 and NSE ID 90319) and/or its affiliate/ group company(ies) (together referred to as “Grip”) and the contents of this disclaimer are applicable to this document and any and all written or oral communication(s) made by Grip or its directors, employees, associates, representatives and agents. This communication does not constitute advice relating to investing or otherwise dealing in securities and is not an offer or solicitation for the purchase or sale of any securities. Grip does not guarantee or assure any return on investments and accepts no liability for consequences of any actions taken based on the information provided. For more details, please visit www.gripinvest.in

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