Digital investment platform Paytm Money is going to enter the market of shares too. Paytm’s investment platform has already got the approval from markets regulator Securities & Exchange Board of India (SEBI) to start stock broking services.
“Waiting to invest in Stock Markets. Our team @PaytmMoney is testing product, order executions, connectivity, infrastructure, operations and much more with stock exchanges today. We know you are eagerly waiting. Soon, very soon,” Paytm Money tweeted.
Paytm Money will offer trading in equities and cash segments, derivatives and ETFs. It is expected that like Zerodha, Paytm will also offer a discount brokerage although it hasn’t announced anything yet. The Bengaluru-based discount brokerage firm now contributes to almost 15% of the Indian retail trading volume and is India’s largest retail stockbroker with a customer base of more than 1.5 million.
Besides share trading, Paytm will also offer NPS (National Pension System) services soon as it has approval from the Pension Fund Regulatory and Development Authority (PFRDA). In 2018, It began its mutual fund app in September.
The fully-owned subsidiary of One97 Communications that operates Paytm has already has over 3 million users on its investment program.