PhonePe enters stock trading segment with Share.Market app: All you need to know

The app is PhonePe's ‘biggest launch of the year,’ according to CEO and co-founder Sameer Nigam.

Published on: Aug 30, 2023, 17:15:16 IST

By HT News Desk, New Delhi

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Digital payments platform PhonePe on Wednesday announced its foray into the stock broking segment, doing so by launching an online service called 'Share.Market.'

A QR code for the PhonePe digital payment system at a store in Mumbai. (Bloomberg)

Sameer Nigam, CEO and co-founder, PhonePe, described the app as the company's ‘biggest launch of the year.’

“Earlier this year, we had introduced innovative solutions such as PinCode, but this new offering is our biggest launch of the year,” Nigam said, according to CNBCTV18.

Meanwhile Ujjawal Jain, appointed as the CEO of Share.Market, said, “The service will bring newer demographics into broking, helping people to get started on their investing journey with off-the-shelf quant research-led offerings, including WealthBaskets.”

Share.Market app: All you need to know

(1.) According to CNBCTV18, which cited information from PhonePe, the app will have a one-time onboarding price of ₹199; this includes benefits that users can avail till March 31, 2024.

(2.) Available both as a mobile app and a dedicated web portal, the facility will aid retail investors in buying stocks, doing intraday trading, and purchasing curated WealthBaskets and mutual funds.

(3.) There will also be a dedicated markets section to track the share market, indices, stocks, and sectors; the tracking will be performed via an intuitive watchlist tracker.

(4.) To install the Share.Market app (or access the web portal), people must use their PhonePe-linked mobile numbers.

(5.) Then, to activate their broking and demat accounts, they must complete the KYC (Know Your Customer) process after signing in.

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