In an integration that could bring 4.20 crore potential investors to the mutual fund fold, Paytm Money, a wealth management arm of Paytm has today enabled Paytm Payment Bank users to add their Paytm account as primary bank account to invest in mutual funds.
In its press statement, Paytm Money said, “With this integration, we aim to benefit over 42 million Paytm Payments Bank customers across India and introduce them to seamless wealth management. Paytm Payments Bank users will now be able to make their account as the primary bank account on Paytm Money, and with this they can now set it to be the default choice for investment & redemption of mutual fund investments.”
Investors would be required to enter Paytm Payment Bank credentials such as mobile number and password linked with their account. Investors will have to create 4-digit passcode on the Paytm app to transact in mutual funds.