Tag: CEO of Paytm Money

Paytm Money launches AI powered ‘Voice Trading’, allows users to explore, buy, and sell securities on command

Mumbai: India’s leading digital ecosystem for consumers and merchants (1) Paytm today announced that its wholly-owned subsidiary Paytm Money has launched Voice Trading, that allows users to place a trade or get information about stocks via single voice command. This service has been launched in line with Paytm Money’s efforts to offer next-gen and AI-driven tech to elevate user experience.

In the age of digital trading, there are movements in a matter of seconds, and the speed of order placement and execution are of prime importance. From searching the stock, to entering specific price and quantity, means that users on average tap the screen multiple times per trade to get desired outcomes.

Paytm Money’s R&D team leveraged its experience in disruptive tech to specifically solve this problem with Voice Trading. The voice trading feature enables a single voice command, with the use of Neural Networks and Natural Language Processing (NLP) to allow instant processing. With the advent of 5G, smart devices and a hyper-connected world, the way we live and transact will change, voice-based transactions will slowly become mainstream and this is the first step to embrace the power of Video/Audio.

Varun Sridhar, CEO of Paytm Money said, ”At Paytm Money, our focus has always been to elevate user experience and be the first to leverage technology to make investing faster, cheaper and easier. With a mobile-first and interconnected world of devices and the much-awaited launch of 5G, the Voice Trading feature enables users to skip the usual 5 to 6 step process of trade in a dynamic environment with simple voice commands. We believe that this will improve user experience over time and will bring more convenience to tech-savvy investors. We are doing a lot of R&D on newer technologies and this is one of the first products to be launched”

Voice Trading is currently being rolled out in Beta to select users and will be available to all users over the next weeks.

Disclaimer:

One97 Communications Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the red herring prospectus (“RHP”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana, at New Delhi. The RHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, and the websites of the stock exchange(s) at ww.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP when available. Potential investors should not rely on the DRHP for any investment decision.

(1) Source: Report titled “The Digital Transformation of Payments and Financial Services in India” dated July 15, 2021, prepared by RedSeer Management Consulting Private Limited.

Paytm has launched India’s first Video-based Wealth Community.

Mumbai, 26th April 2021: India’s homegrown digital financial services platform Paytm today announced that it has launched Paytm Wealth Community to revolutionize how Indians learn, discuss, and trade in the capital markets. Paytm Wealth Community is India’s first investing community based on Video and will enable users to attend live sessions conducted by subject matter experts across an array of wealth topics like Stocks, F&O, IPO, ETFs, Mutual Funds, Gold, Fixed Income, and Personal Finance. Users will be able to learn from experts, interact with them to clarify doubts, and also chat with other users on the platform to discuss various wealth-related topics.

The way today’s youth interact, learn, or transact, has evolved rapidly. The growth of apps and social media demonstrates the influence of social interaction and peers. While across all parts of life, digital communities and groups have grown, wealth management misses a reliable, trustworthy platform. Paytm Wealth Community fulfills this gap by launching a platform designed for the needs of the new Indian investor. The platform is very intuitive, offers live video content on an interactive chat platform, and creators are conducting 30 to 60 min sessions in multiple languages like Hindi, English, Gujarati, and others. In beta, a limited set of creators have been onboarded by Paytm. To ensure the safety of retail investors all creators go through a comprehensive KYC onboarding and all content is recorded/checked. Over time, users will be able to create custom discussion rooms, set up their creator accounts, and chat in a controlled environment. The product and technology roadmap is expected to completely transform the user experience.

The next 100mn capital market investors in India are expected to originate from social groups and investment communities. Paytm Wealth Community intends to be the leader in helping users save, invest & trade better, and will enable millions of users to consume video content like never before.

The Paytm Wealth community is owned and operated by OCL Ltd. (Paytm) and is initially being offered in beta mode on the Paytm Money platform. Paytm Money is one of the leading drivers of wealth creation in India and offers investment products like Stocks, IPO, F&O, ETF, Direct Mutual Funds, NPS, and Digital Gold. Paytm Money has made deep inroads into the country with 7mn+ customers across 99 percent of all Indian pin-codes, helping in democratizing wealth products & services.

Varun Sridhar, CEO of Paytm Money said, “Paytm Money was a natural choice for the Beta launch of Paytm Wealth Community, given our direct access to the broad investment community and reach across India. The Paytm team has implemented cutting-edge video & community technology ensuring the platform is seamless, and the user communication is safe and secure. We are very excited by the potential positive impact it will have on how users engage, learn and invest.”

Paytm Wealth Community also offers the unique opportunity for subject matter experts and experienced investors to become content creators, share their knowledge with millions of budding investors, and create a personal brand in the Indian Capital Markets. The company encourages anyone with a desire to share capital markets know-how, create a personal brand, and have a significant social impact to mail pwc@paytm.com for starting the registration process.

Users who have received access to the Paytm Wealth Community can explore the community calendar which lists out all upcoming sessions and their details on the Paytm Money app. Users can also share sessions with their friends, family, or followers on various social media platforms. Other interested users can download or update their Paytm Money app to the latest version and follow Paytm Money on social media platforms to get access to the live session links.

Paytm has achieved over 1.4 billion monthly transactions in March, led by the massive growth in offline payments and financial services. It is the only platform in the country that promotes all digital payments services including Paytm Wallet, UPI, Paytm Postpaid, cards & net banking & is aiming to enable 50 million merchants with IoT-based payment devices. Its wholly-owned subsidiary Paytm Money is India’s growth enabler for wealth products and is on a mission to bring 10 million Indians to equity markets by FY’22. The platform’s stockbroking offering is helping to bring in more active direct equity investors in an underpenetrated segment. It aims to open over 3.5 lakh demat accounts by year-end and expects 60% of users to be from small cities.

Paytm Money introduces Mirae Asset’s NYSE FANG+ ETF & MF to make investing in American Stocks easier, cheaper & more exciting

Mumbai, April 19, 2021: India’s homegrown digital financial services platform Paytm, today announced that its wholly-owned subsidiary ‘Paytm Money’ is empowering the country’s retail investors with access to top tech stocks from the US in association with Mirae Asset’s NYSE FANG+ ETF. The country is already one of the largest markets for companies like Facebook, Amazon, Netflix, and Google (Alphabet) – FANG, and its importance will only rise over the next decade.

NYSE FANG+ Index is a focused index and includes the original FANG companies + 6 tech leaders in the global Markets – Apple, Alibaba, Baidu, Nvidia, Tesla, and Twitter. Most of these are household names for millions of Indians, and the NFO is expected to be a success, driven primarily by the impressive 102% return delivered by NYSE FANG+ Index over the last year. The underlying tech stocks like Tesla delivered 390% return, and Google (Alphabet) delivered 80% return during this period.

Along with the NYSE FANG+ ETF, Mirae Asset is also launching a mutual fund scheme (NYSE FANG+ ETF Fund of Fund) which will predominantly invest in NYSE FANG+ ETF. From an investor’s perspective, there are certain things to be considered before deciding on the right instrument. The table below clearly lays out these considerations:

Illustrative comparison of investing across all three modes with a 3-year holding period is shown below:

NYSE FANG+ ETF is the lowest cost alternative, followed by a direct mutual fund. ETF also offers the most amount of flexibility vs other alternatives, and for the majority of investors, NYSE FANG+ ETF should be the preferred route. For a small proportion of users who intend to invest a small sum and are unable to open a Demat account, the Direct MF route might be suitable. Regular MF turns out to be the most expensive because of the distributor commissions involved.

Paytm Money will enable its massive user base with the opportunity to bolster its portfolio and have international exposure. The company’s stockbroking initiative is helping bring in more active direct equity investors in the highly under-penetrated segment. It expects this to be one of the biggest drivers of wealth creation over the next decade. It has opened over 1.6 lakh Demat accounts, with over 50 percent of the users being from smaller cities & towns. Paytm Money Stocks aims to more than double the number of accounts to over 3.5 lakh by year-end. It hopes to provide all this to the users in the most cost-effective, reliable & secure manner to both new and experienced investors.

Varun Sridhar, CEO of Paytm Money said, “NYSE FANG+ index represents some of the most dominant tech players globally, and has delivered more than 40% CAGR over the last 3 years. The retail Indian investor today is increasingly looking to diversify beyond traditional funds and asset classes, and Mirae Asset’s NYSE FANG+ ETF is a very attractive proposition at an expense ratio of only 0.33%. We are expecting a lot of demand for this offering. ETF as a category has been very popular in the US markets for quite some time, and we are now seeing ETFs gain acceptance in India as well, with 27% of Paytm Money’s equity users already owning at least one ETF in their portfolio. ETFs are a great way to build long-term wealth, and we believe it will be one of the most important investment instruments for the next decade of investing in Indian capital markets”.