New Delhi: India’s homegrown digital financial services platform Paytm today announced the launch of Stock Trading on its online investment & wealth management platform Paytm Money in beta mode. This new addition will benefit experienced as well as first-time investors to seamlessly invest and trade in stocks in a completely digital & secure environment. The company is striving to become the most comprehensive online wealth management platforms in India driving financial inclusion for the masses.
In India, a limited number of people directly invest in equity markets. With the launch of stock trading, Paytm Money aims to drive higher penetration in equities investing with an easy to use product, low pricing (cash delivery trades are free with intraday trades as low as Rs.10) and digital KYC with paperless account opening. The company is offering early access to a select set of users to receive feedback and the app will eventually be opened to everyone in a few weeks. This service is only accessible for its Android & Web users, and will be followed by an iOS release in a few weeks.
With more than 6 million users on its platform for Mutual Funds & NPS investments, today Paytm Money has investors from 98% of pin codes of India. With its investor first approach, the team at Paytm Money sees a similar trajectory for stocks on its app given the limited penetration of the product in the country and the ease of accessibility the app offers.
