New Delhi, Aug 30: Leading digital payments platform PhonePe on Wednesday announced its entry into the stock broking business, and launched an app called 'Share.Market', allowing users to open their trading accounts and invest in stocks, mutual funds and ETFs.
According to the company, Share.Market elevates discount broking by providing market intelligence, quantitative research-based WealthBaskets, a scalable technology platform, and a great customer experience for investors and traders alike.
"Our goal is to offer the benefits of Discount Broking while creating lasting value for our customers as they invest and trade. We will continue to invest in advanced technology, data, research, and immersive experiences to offer these benefits at scale and drive this new era of Value-led Discount Broking coupling intelligence with Broking," Ujjwal Jain, CEO, Share.Market, said in a statement.
Moreover, the company said that the app will bring a new dimension to stock broking by providing quantitative research along with execution, a proven technology platform, at a competitive discount broking price.
This will help in creating an investing journey focused on wealth creation on a sustained basis, by taking a customer-first approach.
"Share.Market will bring newer demographics into Broking, helping them get started on their investing journey with off-the-shelf Quant research-led offerings, including WealthBaskets," said Sujit Modi, Chief Investment Officer (CIO), Share.Market.
The company mentioned that the investors and traders will gain access to wealth-building opportunities powered by real-time, value-rich insights and intelligence, embedded into products and DIY tools deeply integrated with execution experience, enabling them to make informed decisions.
The platform will also host a dedicated Markets section to track the stock market, Indices, Stocks, and Sectors with an intuitive Watchlist tracker.
PhonePe users can install the app as well as access the web platform by using their PhonePe-linked mobile numbers. Once they login, they can complete the KYC process to activate their Broking and Demat accounts.