About MIRA Money: Wealth Management for a New Class of Earners
MIRA Money is a digital-first investment platform on a mission to democratize wealth advisory. While traditional players focus on ultra-HNIs, MIRA serves India’s aspiring wealth builders—engineers, product managers, and young professionals earning ₹15–50 lakh annually, yet often overlooked by conventional advisors.
With curated mutual fund portfolios and PMS products, MIRA makes investing as easy as a few clicks. Their mobile-first model is designed for the digitally savvy, investment-aware user—someone comfortable with UPI, independent decisions, and mobile-native money tools.
The Challenge: Building Instant Trust in a “Push-Product” Category
Investing may be obvious—but for most users, it’s not urgent. MIRA’s mission to scale wealth advice meant solving three critical friction points at the point of payment:
The Push-Product Drop-Off Dilemma
Unlike loans or insurance, investing is a push product—users delay action. With zero spends on marketing, MIRA invests heavily in ensuring that customers once acquired are not lost due to payments. Glitches in checkout are costly as they mean lost intent and lost CAC.
SIP Mandates Were Failing at Scale
With traditional mandate creation relying on netbanking, MIRA saw drop-off rates of 60–70%. Users forgot credentials or got wary of entering them on unfamiliar screens, leading to mandate failures and failed SIP creation.
Netbanking Friction for Large Transactions
UPI was ideal for day-to-day investing, but limits on many PSPs (₹15K–1L per txn) meant that high-value investors (₹3–5L SIPs) had to switch to netbanking—a flow prone to delays, retries, and user fatigue.
The Solution: UPI-First Investing and Seamless Mandate Creation
Razorpay helped MIRA Money streamline each step of the user investment journey—from onboarding and account verification to one-time and recurring payments.
Frictionless SIP Setup with UPI Autopay
By adopting Razorpay UPI Autopay, MIRA cut mandate failure rates dramatically—from ~65% down to under 10%. The process is now embedded within the app, and users approve mandates via trusted apps like GPay or PhonePe—never leaving the interface.
Even for high-value SIPs, users now split amounts into multiple UPI Autopay mandates, avoiding netbanking altogether. This increased both repeat SIPs and user trust.
Daily Transactions Simplified with UPI & Netbanking
MIRA’s one-time investment flow defaults to UPI—used by 80–85% of daily users. Netbanking remains the fallback for tickets >₹1L. With Razorpay’s stable PG infrastructure and deep bank integrations, both flows deliver minimal failures and fast authorisation.
Account-Level Trust with Penny Drop
MIRA uses Razorpay’s Penny Drop to verify investor bank accounts—ensuring that funds are only accepted from linked accounts, a SEBI mandate. This also prevents mix-ups in family accounts, reducing operational escalations.
What’s Next: Expanding Flows, Reducing Friction
As MIRA Money expands its user base and product offerings, Razorpay will continue to power the backend rails of their growth. From improving SIP automation and payment flows to reducing reliance on legacy netbanking infrastructure, the focus is on making wealth creation more accessible, repeatable, and trustworthy for India’s emerging investors. With a fast-evolving regulatory landscape and user preferences shifting toward autonomy and mobile-first UX, MIRA Money sees Razorpay as a long-term ally in delivering financial confidence at scale.
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