Paytm Money launches stockbroking feature for selected customers

• Paytm sub-brand Paytm Money launches stockbroking feature for the selected customers.
• Paytm Money is a platform that allows people to invest in mutual funds.
• Currently, the feature is in the beta stage, it will be rolled out for everyone in a few weeks from now.

One97 Communications owned company Paytm sub-brand Paytm Money launches stockbroking feature for the selected customers. The platform was launched in 2018, claiming to have Rs 5,000 crores assets under its management.

Paytm Money is a platform that allows users to invest in mutual funds and from now the company is looking forward to giving stockbroking features to let users invest in stocks directly through Paytm Money.

Currently, The feature is in the beta stage, it will be rolled out for everyone in the upcoming weeks from now. Securities & Exchange Board of India or SEBI has approved to add stockbroking feature in Paytm Money.

While adding stockbroking features in Paytm Money, The company is directly going to compete with Zerodha, RKSV (Upstox), ET Money, Groww, and among other retail stockbroking firms.

Paytm will be having the advantage of strong branding and because of its high reach to smaller cities, Paytm Money can make a huge difference in less time.

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Furthermore, Paytm’s founder Vijay Shekhar Sharma hinted about stockbroking services at a recent industry conference. The wealth management app also received approval to offer NPS from the Pension Fund Regulatory and Development Authority (PFRDA).

Moreover, Paytm Money is the most significant venture for Paytm after Paytm Mall. Paytm Money had recently appointed Varun Sridhar as the new CEO and Amit Kapoor to CFO and vice president of the company.

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