Paytm Money will always be free for users, says whole-time director Pravin Jadhav
Vijay Shekhar Sharma's One97 has launched Paytm Money, an app to enable investments into direct mutual fund schemes from 25 fund houses.
With 8.5 lakh registered users already, Paytm Money is designed for first-time mutual fund investors. While the venture has tied up with advisory agencies such as Morningstar, Crisil and Value Research, Paytm Money hopes to leverage its own analytics and risk assessment tools to provide an easy-to-use service via its app.
CNBC-TV18's Syna Dehnugara caught up with Pravin Jadhav who is heading Paytm Money to find how differentiated is this app from others available in the market today.
"We have onboard an advisory team and we are trying to make sure that we build few managed investment advisory products for our customers," Jadhav said.
Paytm is building a journey where it will recommend users a portfolio of schemes that match one's risk profile, he said, adding that a few days from now the company will announce Paytm Money Advisory Portfolios that match users risk profile for them to do their first investment.
One revenue model, Jadhav said they are looking forward to opportunities to make money but not the ones which are currently in place like commissions or fees.
"When we come to that we will have a lot of value added services that we plan to have but it depends upon how customers are coming on our platform and their response," he said.
For now, it is 100 percent free, people can come, invest, don't have to worry about any charges, he said.
On portfolio management, Jadhav said the company won't get into it. "Paytm as a brand stands for consumers, for retail investors, it is something that we are looking for on Paytm Money," he said.
First Published: Sept 4, 2018 11:52 PM IST
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