Paytm Money App is now available for download. paytmmoney.com
@nithin, I read an interesting article of how Jack Ma’s financial startup is shaking the Chinese banking system. Giving more interest than bank a/c for keeping money in the wallet by investing in liquid/ money market funds, and using wallet balance as a pool to disperse loan to users and making money there as well. Many more interesting strategies in the article.
Is Paytm going to repeat the same as Alibaba holds 40% in Paytm?
One more thing, I don’t think they will stop at Mutual Funds. I think Mutual Funds is just the stepping stone. They may enter the brokerage business also to eat the whole pie of wealth management.
It means there would be stiff competition ahead and ultimately a customer will benefit out of it.