Indian digital payments and financial services company PhonePe has on Wednesday announced its foray into stock broking with Share(dot)Market, under its subsidiary PhonePe Wealth Broking Pvt. Ltd.

PhonePe said in a statement that Share(dot)Market elevates discount broking by providing market intelligence, quantitative research-based WealthBaskets, a scalable technology platform, and great customer experience for investors and traders alike.

According to the statement, Share(dot)Market is available as a mobile app and a dedicated web platform, enabling retail investors to buy stocks, do intra day trades, buy curated WealthBaskets and mutual funds.

It is noted that Securities and Exchange Board of India’s initiatives like easy onboarding through Aadhaar/ Video KYC, faster settlement times and regulatory interventions safeguarding customer funds, have resulted in explosive growth of retail investors believing in the power of stock markets to grow their wealth.

This is also evidenced by the steady growth in Demat accounts and Mutual Fund SIPs.

Share(dot)Market will bring in 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.

PhonePe said its reach and distribution capabilities coupled with its ability to provide a secure and high trust transaction system, and great customer experience at scale will help a lot of Indians build wealth.

According to the statement, Share(dot)Market will provide a wide spectrum of investment products allowing investors across different demographics to build a well-rounded and balanced portfolio.

It noted that Share(dot)Market offers stocks (intraday and delivery), mutual funds, exchange-traded Funds (ETFs), and WealthBaskets.

WealthBaskets are curated collections of stocks/investment products by SEBI registered intermediaries that align with specific themes, sectors, or market trends enabling active equity portfolio building with great convenience, and at low costs.

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.

“We are delighted to launch Share(dot)Market which further enables our vision of driving financial inclusion at a population scale,” said Ujjwal Jain, Chief Executive Officer of Share(dot)Market.

According to him, in the last few years, the firm has seen an increase in the percentage of savings going into equities in a big way.

“There is a vibrant growth in the active trading community which trades with different objectives,

“We believe Share(dot)Market will propel this growth with the backing of our technological prowess, reach, seamless onboarding, and superior product experience,” he said.

He also said the firm’s goal is to offer the benefits of discount broking while creating lasting value for its 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,” he added.

Meanwhile, Share(dot)Market Chief Investment Officer Sujit Modi said that the platform will bring newer demographics into broking helping them get started on their investing journey with off-the-shelf Quant research-led offerings including WealthBaskets.

“With our user-friendly interface which will integrate global standard quant research based wealth solutions with broking for research led guidance, we aim to reshape the way investors and Traders engage with the stock market,” he added.

PhonePe was founded in December 2015 and has emerged as India’s largest payments app, enabling digital inclusion for consumers and merchants alike.

With 480 million registered users, the company has also successfully digitized 36 million offline merchants spread across India.

PhonePe is also the leader in Bharat Bill Pay System (BBPS), processing over 45 percent of the transactions on the BBPS platform.

The firm forayed into financial services in 2017, providing users with safe and convenient investing options on its platform.

Since then, the company has introduced several mutual funds and insurance products.

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