Paytm – the largest wallet & payments company in India, is now enabling you to seamlessly make your investments via its newly launched subsidiary Paytm Money. You can now invest in mutual funds via SIPs (Systematic Investment Plans) starting just at Rs. 100. The onboarding & KYC processes are completely paperless. Here’s how you can start investing via Paytm Money:
Log in to Paytm Money: Visit www.paytmmoney.com or download the Paytm Money app. Sign in using your Paytm credentials (registered mobile number/e-mail address and password) and tap on ‘Apply for Access’.
Get Faster Access: The user will be put on a waitlist that indicates the number of people ahead of them in the registration for early access queue. To expedite this process and jump up the queue, the users can click on the option saying ‘I Want Faster Access’ on the app.
Initiate Your KYC: Enter your Permanent Account Number (PAN) and fill mandatory details such as personal information, address proof (as on passport or driver’s licence or Aadhaar), nominee and FATCA declarations, bank account details, and so on.
Upload Digital Signature and Photograph: Users must then upload their digital signature by either signing on their smartphone screen via app or uploading an image of their signature. You must also furnish a photograph against a light background that clearly shows your face and torso.
Complete Verification: The KYC process finishes when you upload a 5 second in-person verification (IPV) video, wherein you must state your full name clearly.
Start Investing: After your KYC is complete, you can start investing on Paytm Money. You can either look up funds based on various factors (such as minimum investment amount, AMC names, fund manager names, tax saving investments, ratings received from leading research agencies like MorningStar, CRISIL & Value Research, etc.) or can use quick filters to find the best investment option for you.
Add Fund to your Portfolio: Now, all you need to do after choosing a fund is select your investment mode preference, i.e. SIP or one time investment. If they choose the former, they can view suggested dates to do monthly SIPs on the SIP calendar. Suggested dates for SIPs take into account historical performance of the fund, to ensure that an investor gets the best possible returns. User can tap on ‘Proceed to Payment’ to make the transaction.
Once the transaction is complete, investors can view the timelines of transactions along with their personal portfolio on the app on a dedicated section.
Paytm Money has taken an investor-first approach with direct plans & no fee for investors & aims to double the mutual fund industry penetration in the next 3 years.
Earlier this year the company received SEBI approval to act as an Investment Adviser (IA) and aims to provide both investment advisory & execution services. Paytm Money aims to become a full-stack investment & wealth management company. Paytm Money is headquartered in and operates from Bengaluru; its 100+ member team is led by Pravin Jadhav, Whole-time Director. The company has received an investment commitment of $10 million for setting up its operations from its parent One97 Communications Limited.