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One97 Communications to Launch Paytm Money Ltd

Staff reporter, New Delhi
10/01/2018   0 Comments

With an aim to offer investment and wealth management products, One97 Communications Limited, has decided to invest approximately 10 million dollars in order to set up a new entity called Paytm Money Ltd. “We ultimately want to be the Charles Schwab of India with a zero-fee brokerage” said Sharma.

Vijay Shekhar Sharma, founder of One97 Communications, said that the new entity will be available as a separate mobile application to users. According to Sharma, Paytm Money Ltd could also end up creating a money market fund in the long term just like Ant Financial in China.

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