Launch · Financial Services

Multipl and UTI launch Investment UPI

By Startup Enthusiast · 9 September 2026

What they do

Multipl offers a spending account that invests money in a liquid mutual fund

It launched 'Investment UPI' with UTI Mutual Fund at Global Fintech Fest 2026

Users can pay via UPI by redeeming from the fund, unlike a bank account or wallet

Multipl and UTI Mutual Fund launched 'Investment UPI' at Global Fintech Fest 2026 in Mumbai.
The product is a spending account that invests users' money in a liquid mutual fund.
Money added to Multipl's Spending Account goes into the underlying UTI Liquid Fund.
When a user makes a UPI payment, the needed amount is redeemed from that fund.
The account can also be used for bill payments and brand gift cards.
Bill payment functionality via BBPS integration started on September 10.
Multipl operates as a licensed Third-Party Application Provider (TPAP) under NPCI's UPI framework.

Conventional UPI debits from a bank account; a prepaid wallet holds pre-loaded money.
Investment UPI keeps money in a liquid fund until a payment is made.
Money in the product is subject to mutual fund structure, redemption process and market risks.
It is not equivalent to a bank deposit.

Multipl's core product is a spending account that invests users' money in a liquid mutual fund.
Users can make UPI payments by redeeming the needed amount from the fund.
The account supports bill payments and brand gift cards.
Users can redeem investments to purchase gift cards from participating brands and access discounts.
Multipl is a licensed Third-Party Application Provider (TPAP) under NPCI's UPI framework.
The product is described as a new 'spending account' category combining investing, liquidity and payments.

UTI Mutual Fund (partner) — Partner for the Investment UPI product; provides the underlying UTI Liquid Fund.
Axis Mutual Fund (partner) — One of the mutual fund partners for eligible liquid fund schemes.
ICICI Prudential Mutual Fund (partner) — One of the mutual fund partners for eligible liquid fund schemes.
HDFC Mutual Fund (partner) — One of the mutual fund partners for eligible liquid fund schemes.