Mumbai: ICRA Online has entered into a memorandum of understanding with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) for setting up a payment gateway for mutual fund (MF) transactions. This initiative will enable investors to make payments against purchase of mutual fund units even if they do not have access to net banking facilities. Investors can log on to the mutual fund website and place their purchase order. They can then use the secured mobile messaging system or the e-mail facility offered by the gateway to make payments. If a customer does not have access to Internet banking and writes a cheque for the purchase of mutual fund units, by the time the cheque clearing takes place the investors lose out on deployment opportunities. Using the gateway they could reduce the transaction time, said Sanjoy Banerjee, Executive Director, ICRA Online.