Paytm Money is an online investment application launched in the year 2018. It is a part of the company, One97 Communications, which is also the owner of Paytm. The main branch office is based in Bengaluru and it runs its operations through its online presence on the website and application on mobile. Paytm Money provides financial investment opportunities in stocks, equity options, equity futures, equity intraday trading, equity delivery trading, currency option, currency futures, and commodity options trading. The platform charges brokerage at a discounted rate and provides trading charts, market research on trends, and trading recommendations. It is registered with SEBI for financial transactions.
The Paytm Money app can be downloaded from Google Play Store for free. The app has become quite popular because of its easy interface and smooth operation as well as the financial services that it provides. The app has been downloaded 5 million times till now. It also lets the user traders invest in more than 40 asset management companies. At present National Pension System is also included in the Paytm Money app.
- The app needs to be downloaded and registration has to be done with KYC details and documents. Users who have already got a Paytm account can simply log in. The process is longer for others who need to go through the registration. The App is easy to use with a smooth interface. Apart from the usual dashboard with details of trading, recommendations, and analytics, one can easily track trading investments and other details. The app does not have a dedicated customer service call center but can be reached out by email.
- The Demat account can be opened after verification of KYC documents. The Paytm Trading account can be opened through the same process. The platform charges Rs 200 for digital KYC with additional Rs 300 for account opening charges. Paytm Money does not charge any amount for Account Maintenance. Hence account opening is quite economical compared to other financial investment platforms because of its nominal charges.
- The brokerage charges are quite low and different for each investment in trade, stocks, mutual funds. The charges are Rs 10 for Equity Intraday Trading, Rs 20 for each order for Commodity Options Trading, Equity Futures Trading, Equity Options Trading, Currency Futures Trading, and Currency Options Trading.
- Apart from the flat brokerage charges of Paytm Money, there are other lucrative investment reasons for using this platform. If a user is referred through the referral program, he can get a bonus as a percentage on trading or an amount that can be used for trading. Moreover, the platform is linked with more than 200 banks for automatic payments while trading or investing in stocks. Then again, the platform provides multiple payment options like UPI, Net banking, OTM, and other systems which makes it easier for the user to have a hassle-free experience during trading and investment on the app. Moreover, there are two ways available for users investing in mutual funds namely the Regular plan where distributors, agents can be involved and the Direct Plan where there is no involvement of distributors.
The Paytm Money application has become one of the biggest mutual fund transaction services online to investors in India. Ease of usage and immediate activation of the investment account make the platform a success for the investment community in India.
Overall, the Paytm Money application lives up to industry expectations and provides consumers with a range of features to make the most out of their investments. The extra functionality given by the parent Paytm app, such as banking and shopping at Paytm Mall, only strengthens the appeal of this app.