Paytm who has already created a wide market in the nation by developing payment portals and services through digital means also creating services like mutual funds and investments is now looking forward to get into providing their customers and users with a stock broking service as they sought approval of the same from SEBI earlier in January 2020. The company is a mainly a digital payment company also providing services like E-commerce, Gaming, Banking and other collaborated services like cab booking and online shopping.
In January 2020 the company sought approval of Securities and Exchange Board of India (SEBI) for providing the public with a stock dealing service of their own during which the company in a announcement said “We will be introducing new capabilities & offerings on our platform, such as trading in equities & cash segments, derivatives, ETFs and more exchange traded products”
The company’s Founder – Vijay Shekhar Sharma, recently made an announcement in the Global Fintech Fest regarding the same where he said “Payments has been the largest revenue for us. Thereafter, we started our e-commerce business and financial services stack such as insurance and we hope to do lending. Then we have our mutual fund business and we hope to do stock brokerage soon which we will be launching in a few weeks.”
The new service of trading will be added in the Paytm Wealth feature, According to Sharma.
