Phonepe Launches Stock Broking Platform ‘Share.Market’
PhonePe is stepping into stock broking through its new offering called Share.Market, which falls under its subsidiary PhonePe Wealth Broking. PhonePe was an Indian company, but now it is owned by Walmart.
This move is a big deal for PhonePe as a digital payment platform, as it completes its range of financial services. ‘Share.Market’ makes it possible for regular people to buy stocks, do day trading, and invest in mutual funds through a mobile app or a website.
What’s special about Share.Market is that it offers more than just trading. It provides market insights and research-backed WealthBaskets, which are collections of stocks put together by experts based on specific themes or trends. These can help people build a diverse portfolio easily.
To make things even better, PhonePe has made a deal with Share.Market to offer no brokerage charges up to ₹400 on orders and no platform fees for WealthBaskets. This means it’s trying to make investing more affordable for everyone.
When you use Share.Market, you can keep track of the stock market, indices, and sectors through its special section. To access it, you can use the mobile app or website after signing up with your PhonePe-linked mobile number and completing a verification process.
This move puts PhonePe in competition with other stock trading startups like Zerodha, Groww, and Upstox, as well as traditional stockbrokers.
Ujjwal Jain, the CEO of Share.Market, said that the platform aims to cater to a wide range of people interested in trading and investing. They’re focusing on offering technology-driven solutions and research to make investing easier and more informed.
PhonePe is known for its digital payment services, but it’s been introducing more financial products lately. Recently, it added features for paying income tax, getting health insurance, and even merchant lending.
With Share.Market, PhonePe is taking a step into the world of stock trading, hoping to bring more people into investing with their user-friendly platform and research-backed guidance.
PhonePe’s new platform ‘Share.Market’ will let people buy and sell stocks, invest in mutual funds, and build portfolios with expert guidance.
PhonePe will have to compete with existing market players like Zerodha, 5Paisa, PaytmMoney and others. The company is aiming to make investing more affordable and accessible for everyone through its latest platform, especially those who are new to trading.