PhonePe Enters Stock Broking Industry with Launch of Share(dot)Market
PhonePe, an Indian digital payments and financial services company, announced its entry into stock broking with Share(dot)Market on Wednesday through its subsidiary PhonePe Wealth Broking Pvt. Ltd. Share(dot)Market, according to PhonePe, elevates discount broking by providing market intelligence, quantitative research-based WealthBaskets, a scalable technology platform, and a great customer experience for both investors and traders.
Share(dot)Market is available as a mobile app and a dedicated web platform, allowing retail investors to buy stocks, do intraday trades, and purchase curated WealthBaskets and mutual funds, according to the statement.
It should be noted that initiatives by the Securities and Exchange Board of India, such as easy onboarding via Aadhaar/Video KYC, faster settlement times, and regulatory interventions to protect customer funds, have resulted in an explosive growth of retail investors believing in the power of stock markets to grow their wealth.
This is also demonstrated by the consistent increase in Demat accounts and Mutual Fund SIPs. Share(dot)Market will add a new dimension to stock trading by offering quantitative research as well as execution on a proven technology platform at a competitive discount broking price.
By taking a customer-first approach, this will aid in the creation of an investing journey focused on long-term wealth creation.
PhonePe claims that its reach and distribution capabilities, as well as its ability to provide a secure and high-trust transaction system and a great customer experience at scale, will assist a large number of Indians in building wealth.
According to the statement, Share(dot)Market will offer a diverse range of investment products, allowing investors of all ages to build a well-rounded and balanced portfolio.
Share(dot)Market provides stocks (both intraday and delivery), mutual funds, exchange-traded funds (ETFs), and WealthBaskets, according to the company.