Walmart-owned fintech giant PhonePe has taken a bold stride into the world of stock broking through the launch of Share.Market. Operating under its subsidiary PhonePe Wealth Broking, this move marks the company’s entrance into the stock market landscape.
PhonePe Introducing Share.Market and its Offerings
Share.Market, the newly launched platform, presents a range of investment opportunities to users. These encompass stocks for intraday and delivery trading, mutual funds, and exchange-traded funds (ETFs). Notably, the platform’s unique feature, WealthBaskets, offers curated collections of investment products aligned with specific themes, sectors, or market trends. This feature allows retail investors to actively build their equity portfolios.
PhonePe User-Focused Features and Accessibility
Share.Market has rolled out as a mobile app and a dedicated web platform. This accessibility enables retail investors to partake in stock trading, intra-trades, and the acquisition of curated WealthBaskets and mutual funds. While the initial version includes certain features, the company plans to introduce additional functionalities over the next two years.
Transparent Pricing and Benefits for Users
The platform implements a transparent pricing structure, charging either 0.05% of the executed order or INR 20 as brokerage fees for both delivery and intraday orders. Additionally, a one-time onboarding charge of INR 199 is applicable. Once onboarded, users gain access to advantages such as zero brokerage charges for orders up to INR 400, zero platform fees for in-house and third-party WealthBaskets, and fee-free WealthBasket transactions until March 31, 2024.
Competition and Vision for the Future
PhonePe enters the stockbroking arena with formidable competition, facing both tech startups like Zerodha, Groww, and Upstox, as well as established stockbroking firms. Ujjwal Jain, CEO of Share.Market, emphasized the platform’s potential to bolster the growing trend of equity savings through its technological strength, seamless onboarding, and enhanced product experience. Share.Market aims to revolutionize stock market engagement by providing quantitative research, execution capabilities, and a customer-centric investment journey focused on wealth creation.
PhonePe’s venture into stock broking with Share.Market demonstrates its commitment to diversifying its fintech offerings. The platform has a user-friendly interface. It offers curated WealthBaskets and competitive pricing. These factors position it as a player ready to reshape stock trading. The fintech decacorn is expanding its product portfolio. It aims to introduce new demographics to broking and investing. This is supported by real-time insights, customer-centric strategies, and cutting-edge technology.
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