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Paytm To Soon Begin Stock Trading Services
Expanding into new business segments in fintech and digital investment services, Paytm Money will soon be offering stock market trading to its customers.
"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 tweeted on Monday.
Waiting to invest in Stock Markets 😊
— Paytm Money (@PaytmMoney) January 4, 2020
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 :) pic.twitter.com/I2un2aeBNl
In 2019, the fully owned subsidiary of One97 Communications (Paytm) said that it has received permission from market regulator SEBI (Securities and Exchange Board of India) to offer Stock Broking and Depository Participant (DP) services as well as membership approvals from stock exchanges-BSE and NSE.
Paytm Money has also received approval from PFRDA as Online POP (Point of Presence) to offer NPS (National Pension System) on its platform.
Paytm Money is looking to offer trading in equities and cash segments, derivatives and ETFs, however, it hasn't announced its pricing plan yet.
The platform already has a dedicated app for mutual fund investments. Paytm Money is tied up with multiple Asset Management Companies to offer direct plans of their mutual funds which come with lower expense ratios due to zero distribution fees or commissions. It had also partnered with leading rating agencies like CRISIL to help customers make better investment decisions.
