India tech giant Paytm has announced recently about Paytm Money has got the privilege to launch its stockbroking services within just a few coming weeks. It has received the approval for stockbroking from SEBI in the month of January 2020. The company is now expected to compete with the likes of Zerodha.
Digital Payment King is now in Stock Market – Paytm Money
It has gained quite a good amount of reputation in the digital payments industry, as well as, it has turned its foray in the mutual funds and insurance sector. Paytm is now expanding its services further and it is consequently looking forward to bring more options to its customers in the upcoming days.
Paytm is looking forward to share more options to its customers. It is now all set to bring more options, and the Paytm is all set to launch its stock breaking service in the next few weeks. The founder of the digital payments company, Vijay Shekhar Sharma has announced about it in the Global Fintech festival.
Paytm Money Brokerage | Charges
Paytm has not said anything about the Brokerage plans yet but experts are assuming that they will lunch Flat Brokerage like Zerodha and Upstox. Vijay Shekhar Founder of Paytm Money has said that payments happened to be the largest source of revenue for the company.
However, that didn’t affect the growth of the company, and it started expanding itself in different commercial stacks such as ticketing and in the e-commerce business as well. The company came into the e-commerce business and then started to build its financial service stack. Sharma went on saying that the stockbroking service will come under their Paytm Wealth feature.
SEBI has approved Paytm Money for Stock Market Broking
Paytm had received the approval for stockbroking from SEBI in January 2020 and thus it will come up with new provisions for trading in equities & cash segments, derivatives, ETFs and more exchange traded products. He was extremely proud while making this announcement and he even added on saying that Paytm is gradually moving towards becoming a full-stack wealth management platform.
It is sure to have a bright future in the coming days and that’s what the company is heading towards! Furthermore, they added on saying that Paytm is doing really well and has thus, become a popular choice for everyone. This would definitely turn out to be a success for the organization.