Paytm’s founder Vijay Shekhar Sharma was one of the speakers at AMFI’s recently held conference in Mumbai on 23rd Aug. 2018.
Watch it below –
Some highlights of the speech are below –
- Paytm Money has set a target of adding 20 million customers in 1,000 days. As of June quarter, the industry’s folio tally stood at 74 million.
- Paytm Money will go live with its app in the next two weeks.
- Paytm Money would also be open to opportunities of working along with the distributor community, including independent financial advisors (IFAs)
- “Paytm Money will largely be aimed at a new, young generation of investors that seek a simple platform for investing their savings,” Sharma said. At the same time, Sharma urged the industry to challenge itself to get a higher share of savings parked in the bank accounts.
- Paytm Money aspired to become wealth advisor for the small investor, whose daily earning is not more than Rs 1,000.
What will be PayTM’s differentiating factor ?
Sharma gave some glimpses of how Paytm Money could differentiate itself in the future. “We want the transactions to happen instantaneously. Why can’t folios open faster and redemptions be settled immediately? Why can’t we look at possibilities such as borrowing from banks over short-term to settle redemptions immediately? Why does the investor need to wait for funds to come in?” he said.