Paytm is launching Paytm Wealth Community, a video-based feature as part of its digital wealth management platform in a bid to tap young users interested in investing in capital markets. The community will showcase videos from experts and content creators on a variety of financial subjects in multiple languages. In its first phase, it would feature sessions by 40 financial experts including William O’Neil, Quantech Capital, and Skillspire. The beta phase of the community will run on Paytm Money, the digital wealth management platform which allows users to invest in mutual funds, equity, IPOs, ETFs, futures & options, digital gold, and the National Pension Scheme.
“The Paytm Wealth Community is the single most important change that we’re bringing to the equity investing and trading platform, so to speak,” Varun Sridhar, CEO of Paytm Money. “The single biggest problem with investments is users don’t know what to do and after they know what to do, they’re not confident enough.” Paytm Wealth Community, which will allow users to interact with the expert on chat, will stream 45 minutes to hour-long live sessions targeted at making investing in stock markets and other financial investments easier to understand for millennials and those who are new to investing.
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Several fintech companies in recent times have resorted to building video-based communities and tap online influencers to expand their user base. Broking platform Groww has built a YouTube presence to attract millennial investors. Stockbroking platform Upstox has leveraged social influencers to sell products like digital gold. At a later stage, Paytm Wealth Community will allow creators to upload 15-minute videos on its application and create subcommunities. The partnerships with creators are not exclusive and Paytm is not paying them to upload content. In the near future, it will allow viewers to pay to access exclusive content, Sridhar said.