Back in the month of February, Paytm had registered new brand outfits under its expansion plans beyond a digital payments service and wallet. Then the company confirmed that the new Paytm Money service had been approved as an investment advisor by Securities and Exchange Board of India (SEBI).
And now Paytm Money is seeking early adopters for the investment program. On its Twitter handle, Paytm Money has asked interested consumers to pre-register for special investment schemes using their mobile number.
— Paytm Money (@PaytmMoney) April 24, 2018
As part of its expansion into the investments and wealth management category, Paytm is reportedly engaged in the process of onboarding AMCs (Asset Management Companies) and investment firms in India. Paytm claims to be on a mission of making investment and wealth management offerings easier to buy and use.
With Paytm Money, users can invest money in financial instruments like mutual funds – Paytm says it will add more products in the future – without paying any commission. It says that customers can get up to 1.5% higher returns than investment via traditional banking institutions.
Users will also be able to track the performance of their investments 24×7 through the app, and use the trends to make better financial decisions. More importantly, users will be able to manage funds and investments directly from mobile apps.
Naturally, these apps will be launched when Paytm is ready to launch the service. Considering that Paytm has already begun pre-registrations means that it shouldn’t be long before the platform is launched.
You can express your interest for investing mutual funds using Paytm Money by heading over to this page.