Paytm Money a leading digital payments company, is launching stock market trading services soon. Securities and Exchange Board (SEBI) already gave permissions to the company to start Stock Market trading services. With this approval, all users of Paytm Money can now buy and sell stocks, right from their app on the mobile. This is seen as a major disruption for the stock market.
The Company revealed several details to this extent through its official Twitter account. “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,” They tweeted..
PayTM Money Trading will be offered in Equity, Cash Segment, Derivatives and ETFs. They have not yet announced their pricing plan. But it is reported that it is currently in the discount brokerage division led by Zerodha. PayTM will also offer National Pension (NPS) services in addition to Money Share Trading. For this, approval has been obtained from the Pension Fund Control Agency (PFRD). PayTM Investment Platform has over 3 million customers. The company is already offering mutual fund services.