PhonePe Enters Stock Broking Introduces 'Share.Market' App For Trading Stocks, Mutual Funds & ETFs
This app is designed to redefine stock broking by combining quantitative research with execution capabilities on a robust technology platform
PhonePe, a prominent digital payments platform, has announced its foray into the stock broking sector with the launch of its app, 'Share.Market'. This new app enables users to establish trading accounts and invest in a variety of financial instruments, including stocks, mutual funds, and ETFs.
The company has positioned Share.Market as an evolution in discount broking. It offers a comprehensive package that includes market intelligence, quantitative research-driven WealthBaskets, a scalable technology infrastructure, and an excellent customer experience for both investors and traders. This app is designed to redefine stock broking by combining quantitative research with execution capabilities on a robust technology platform, all at a competitive discount broking price.
PhonePe's Share.Market intends to create an investing journey that emphasizes consistent wealth creation through a customer-centric approach. Sujit Modi, Chief Investment Officer (CIO) at Share.Market, emphasized that the app aims to attract new demographics to the world of broking by providing ready-to-use Quant research-led offerings, such as WealthBaskets. Investors and traders using the platform will gain access to real-time, value-driven insights and intelligence, seamlessly integrated into products and do-it-yourself (DIY) tools that enhance the execution experience, facilitating well-informed decision-making.
The platform also features a dedicated Markets section where users can monitor stock market trends, indices, individual stocks, and sectors. This intuitive feature is accompanied by a Watchlist tracker to keep users updated on their chosen assets.
Existing PhonePe users can effortlessly install the app and access the web platform using their PhonePe-linked mobile numbers. Once logged in, users can complete the Know Your Customer (KYC) process to activate their Broking and Demat accounts, streamlining the onboarding process.
PhonePe's entry into the stock broking business reflects its ambition to expand its offerings beyond digital payments. By combining quantitative research, technology-driven solutions, and user-friendly experiences, Share.Market aims to attract a diverse range of users, making investing more accessible and informed for individuals looking to venture into the world of finance.
