After the advent of digital payment, the Indian economy has massively changed. By using online payment portals, monetary transactions have now become easier and safer. As a result, not only business entities but the general public has also embraced digital payment trend. Following digital payment, digital lending has trailed and now online investment market is an emerging trend.
The online investment market is a forthcoming theme in fintech (financial technology) sector. Renowned payment firms such as Phone Pe, Mobikwik and Paytm and special players namely, Scripbox and Zerodha, will be leading the new change.
The investment sector, being a highly competitive zone, has started getting popular amid consumers. The industry executives state that earning revenue from solely selling mutual investments is a tough task, as reported by the Indian daily news, The Economic Times.
As the operations in the economy are rising and cross-selling opportunities are emerging, the digital payment companies and other special players are working on their respective business models to monetize the online investment theme better.
We have established a business model around cross-selling of products beyond direct mutual funds, and have forayed into insurance and lending. There is already a degree of monetisation which has come in, told Mukesh Kalra, CEO at ETMoney, the Indian daily news, The Economic Times.