Paytm launches India’s first Video-based Wealth Community
India’s homegrown digital financial services platform Paytm today announced that it has launched Paytm Wealth Community to revolutionize how Indians learn, discuss, and trade in the capital markets. Paytm Wealth Community is India’s first investing community based on Video and will enable users to attend live sessions conducted by subject matter experts across an array of wealth topics like Stocks, F&O, IPO, ETFs, Mutual Funds, Gold, Fixed Income, and Personal Finance. Users will be able to learn from experts, interact with them to clarify doubts, and also chat with other users on the platform to discuss various wealth-related topics.
The way today’s youth interact, learn, or transact, has evolved rapidly. The growth of apps and social media demonstrates the influence of social interaction and peers. While across all parts of life, digital communities and groups have grown, wealth management misses a reliable, trustworthy platform. Paytm Wealth Community fulfills this gap by launching a platform designed for the needs of the new Indian investor. The platform is very intuitive, offers live video content on an interactive chat platform, and creators are conducting 30 to 60 min sessions in multiple languages like Hindi, English, Gujarati, and others. In beta, a limited set of creators have been onboarded by Paytm. To ensure the safety of retail investors all creators go through a comprehensive KYC onboarding and all content is recorded/checked. Over time, users will be able to create custom discussion rooms, set up their creator accounts, and chat in a controlled environment. The product and technology roadmap is expected to completely transform the user experience.
The next 100mn capital market investors in India are expected to originate from social groups and investment communities. Paytm Wealth Community intends to be the leader in helping users save, invest & trade better, and will enable millions of users to consume video content like never before.
The Paytm Wealth community is owned and operated by OCL Ltd. (Paytm) and is initially being offered in beta mode on the Paytm Money platform. Paytm Money is one of the leading drivers of wealth creation in India and offers investment products like Stocks, IPO, F&O, ETF, Direct Mutual Funds, NPS, and Digital Gold. Paytm Money has made deep inroads into the country with 7mn+ customers across 99 percent of all Indian pin-codes, helping in democratizing wealth products & services.
Varun Sridhar, CEO of Paytm Money said, “Paytm Money was a natural choice for the Beta launch of Paytm Wealth Community, given our direct access to the broad investment community and reach across India. The Paytm team has implemented cutting-edge video & community technology ensuring the platform is seamless, and the user communication is safe and secure. We are very excited by the potential positive impact it will have on how users engage, learn and invest.”