Website LiveMint writes, "Paytm launches investment arm, to invest $​10 million," which discusses the potential launch of a new money market fund in India. It says, "Paytm, run by One97 Communications Ltd, has set up a new entity called Paytm Money Ltd that will offer investment and wealth management products and will invest close to $​10 million upfront in the new entity. Paytm Money is the fourth product from One97'​s stable after Paytm Mall, Paytm Payments Bank and Paytm wallet; it will be available as a separate mobile application to users, said Vijay Shekhar Sharma, founder of One97 Communications. Paytm could also end up creating a money market fund in the long term just like Ant Financial in China, said Sharma. Alibaba'​s four-​year-​old Yu'​e Bao Fund is one of the biggest money market funds in the world." The piece adds, "Paytm, which also has a payment bank, could make money through the deposits customers keep in their wealth management accounts. Experts have raised concerns over the business model of payments banks and how it would be difficult for these banks to make money as they are not allowed to lend. Synergies between Paytm Money and bank could help solve that problem for Paytm. Paytm Money is in the process of seeking approval from the Securities and Exchange Board of India (​Sebi) to act as an investment advisor. To start with, it may offer mutual fund products to users.... Paytm counts SoftBank Group Corp., SAIF Partners, Alibaba Holding Ltd and Ant Financial Services Group as its investors."

Your Name:
Your Email:
Recipient Email(s):

Use a comma or a semicolon to separate

Please retype symbols from the image:

Optional Message

Daily Link Archive