Not many of us are utilised to buying mutual funds with our smartphones, even though there are some apps that facilitate this. However, with Paytm, among India’s largest digital wallets, a place to get into mutual fund distribution within a month’s time, lots of us would be able to purchase mutual funds using a tap of a button.
Paytm claims to get about 300 million customers.
Paytm Money, a subsidiary of digital payments major Paytm, has appointed Pravin Jadhav as an extra director at the corporation. In January, Paytm had declared that it will set up ‘Paytm Money‘ to construct investment and wealth management products for the consumers.
Most experienced mutual fund investors come in urban locations, and the product has only recently made inroads in semi-urban and rural areas. Will people utilize the mutual fund platform the way we look at the e-wallet, which is usually used to date to buy things like movie tickets?
Paytm Money will be just as with any other online platform from where you can buy funds. Using Paytm Money, you’ll be able to purchase and sell mutual funds as well as get some guidance if you need assistance in making a decision. Although Jadhav did not elaborate on the nature and extent of information that the app would provide, he explained that “Simplified tools and products would be available for investors to facilitate in their decision-making process.”
Now Paytm is sending early access emails to users, where they can register for early acces program using their registered mobile number. If you haven’t received any email, you can register for Paytm Money early access here – www.paytmmoney.com.