CIOReviewIndia Team | Monday, 28 September 2020, 04:07 IST
With its service for every customer, Paytm Money which is Paytm’s wealth management subsidiary has gone live. Previously it was accessible to only selected Android users and was running on beta mode from last July.
The newly appointed CEO of Paytm Money said that the company aims to register 1 million new retail investors on the platform by the close of the ongoing fiscal year in March 2021 by leveraging on the demand for equity trading among first-time users. Including bank deposits, the move comes at a time when yields on traditional savings instruments are at decadal lows.
“We believe it’s an opportunity for us to enable millennials and new investors to build their wealth portfolio. Our technology-enabled solutions help make stock investing simple and easy,” said Sridhar. “We will continue to challenge the status quo and build India’s best product.”
“The platform witnessed higher adoption from tier 1 cities such as Mumbai, Bengaluru, Hyderabad, Jaipur and Ahmedabad. Smaller cities such as Thane, Guntur, Bardhaman, Krishna and Agra are also showing high traction,” Paytm said.
By next year, Sudhir has also said that the Bengaluru-based Paytm Money has also set plans to launch more complex features on the platform, including commodity and derivative trades.
