Paytm will soon let you invest in shares

Business

02 Apr 2019

Soon, Paytm will let you invest in shares: Here's how

India's leading payments giant Paytm is gearing up to bring its next offering on the table - Stock Broking.

The company has announced that its wealth management platform Paytm Money has received necessary regulatory approvals to serve as a stock-broker.

This means that you will soon be able to buy and sell shares right from the Paytm Money app.

Here are the details.

Announcement

Paytm Money gets SEBI approval, becomes BSE, NSE member

Paytm Money gets SEBI approval, becomes BSE, NSE member

In a recent blog post, Paytm Money confirmed the receipt of necessary approvals from the Securities & Exchange Board of India - the prime regulator of our country's securities and capital market - for stock-broking.

Plus, the company also noted it has become a member of two main security exchanges of our country - the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Share investment

Soon, you will see investment options in Paytm Money

With the latest development, Paytm Money gears to transform into a full-fledged wealth management platform.

The service already offers mutual funds, and now it's being evolved to offer options for trading in equities & cash segments, derivatives, ETFs and more exchange-traded products.

Many details aren't yet clear but we expect Paytm Money's stock investment/trading features to work pretty much like its mutual fund offerings.

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Here's what Paytm said

"With this, we are moving closer to becoming a full-stack wealth management platform as we had set out, and inline with our vision & mission to bring wealth creation opportunities to millions of Indians," Paytm said, noting it'll continue to transform investment experience in India.

Launch

Launch timeline still remains unclear

Launch timeline still remains unclear

Paytm says it is already ramping up its engineering and product teams to serve a reliable stock investment service in partnership with the two exchanges.

The company has also started hiring experts for its market operations in Trade, Settlement, Depositories, Risk, Finance, Treasury and other departments.

However, despite this progress, it still remains unclear when exactly Paytm Money's stock trading features would go live.

Advantage

Paytm Money will have advantage of massive user base

When launched, Paytm Money's share trading capabilities would go against online trading platform Zerodha.

The Bengaluru-based company dominates as one of the biggest players in the game with nearly 9 lakh customers.

It will be interesting to see how Paytm challenges Zerodha with its humongous user-base; the company currently boasts over 10 lakh Paytm Money users and 10 crore users on main Paytm app.

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NSE

Paytm

SEBI

Stock Market

Bengaluru-based

Bombay Stock Exchange

ETF

Exchange Board

India

National Stock Exchange

Paytm Money

Securities & Exchange Board of India

Stock Broking

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Most asked questions

When stock trading would launch in Paytm Money?

Can we invest in mutual funds through Paytm Money?

Is Paytm Money free?

How many people use Paytm Money?

More questions

When stock trading would launch in Paytm Money?

Asked 2019-04-02 10:45:48 by Vibhore Lobo

Answered by NewsBytes

As of now, it is not clear when Paytm Money would bring options for stock trading.

Can we invest in mutual funds through Paytm Money?

Asked 2019-04-02 10:45:48 by Anika Powar

Answered by NewsBytes

Yes, you can invest in Mutual Funds through Paytm Money.

Is Paytm Money free?

Asked 2019-04-02 10:45:48 by Shreya Pawar

Answered by NewsBytes

Yes, the service is free to use; you don't have to pay any fee to the company.

How many people use Paytm Money?

Asked 2019-04-02 10:45:48 by Dhruv Chopra

Answered by NewsBytes

Paytm Money is used by more than 10 lakh Indians.

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