“PhonePe Launches Share Market App: Enter the Stock Trading Segment with a Bang”
Digital payments platform PhonePe is making a significant expansion into the stock broking industry with the launch of its new online service called ‘Share.Market.’ The move is being hailed as PhonePe’s “biggest launch of the year” by CEO and co-founder Sameer Nigam.
Digital payments platform PhonePe is making a significant expansion into the stock broking industry with the launch of its new online service called ‘Share.Market.’ The move is being hailed as PhonePe’s “biggest launch of the year” by CEO and co-founder Sameer Nigam.
This strategic foray into stock trading comes as part of PhonePe’s efforts to diversify its offerings and tap into the growing demand for online trading and investment platforms. The ‘Share.Market’ app is set to introduce innovative solutions to attract a wider demographic of users into the world of broking and investing.
According to Sameer Nigam, the CEO of PhonePe, the introduction of ‘Share.Market’ is a significant milestone for the company. While PhonePe had previously launched features like PinCode earlier this year, this new offering is being positioned as a game-changer.
Ujjawal Jain, who has been appointed as the CEO of Share.Market, stated that the service is designed to bring new investors into the fold. The app is set to offer off-the-shelf quant research-led offerings, including the option to invest in curated WealthBaskets. This approach aims to simplify the investing journey for users who might be new to the world of trading.
The ‘Share.Market’ app will be accessible through both a dedicated mobile application and a web portal. This versatile approach allows users to engage with the platform through their preferred medium. The platform will cater to retail investors by providing options for buying stocks, engaging in intraday trading, and exploring curated investment options like WealthBaskets and mutual funds.
One notable feature of the ‘Share.Market’ app is its dedicated markets section, which will enable users to track share market trends, indices, stocks, and sectors. The tracking will be facilitated through an intuitive watchlist tracker, enhancing the user experience.
To access the Share.Market app or the web portal, users will need to use their PhonePe-linked mobile numbers. Subsequently, they will need to complete the KYC (Know Your Customer) process after signing in to activate their broking and demat accounts.
This strategic move by PhonePe is expected to shake up the traditional stock trading landscape and attract a new wave of investors. With the convenience of digital platforms and innovative offerings like WealthBaskets, PhonePe aims to simplify investing and trading for a broader audience.
The app’s introduction is timely, given the growing interest in online trading and the increasing appetite for investment opportunities among individuals. With the ‘Share.Market’ app, PhonePe is positioning itself as a key player in the digital stock trading ecosystem, leveraging its extensive user base and technological prowess.
As PhonePe ventures into this new territory, industry observers are keenly watching how the platform’s innovative approach will impact the stock broking industry and attract a diverse group of investors.
It remains to be seen how ‘Share.Market’ will fare in the competitive world of online stock trading, but its arrival certainly signals a bold move by PhonePe to expand its footprint in the financial services sector.
Sources By Agencies
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