Incumbent distributors confident despite talks of Paytm's MF foray

The widely heralded Jio moment of the mutual fund industry is right around the corner. Paytm is set to go live with its mutual fund distribution platform, Paytm Money, anytime this month. However, mutual fund distributors, which at the last count accounted for Rs 1.8 trillion of industry assets, are confident that there is no need for them to reshuffle their business model and reiterated the importance of timely advice for investors.

“Those just looking for transaction convenience and parking surplus funds on a temporary basis would get drawn to platforms like Paytm Money. However, serious investors with long-term horizons would continue to prefer platforms like ours where they can get timely and customized advice. We are going to stick to our business model despite what the competition is doing,” said Srikanth Meenakshi, co-founder and chief operating officer of online FundsIndia.

The Chennai-based firm has among the highest assets under management (AUM) of Rs 43 billion when it comes to digital-only platforms, earning Rs 496 million in distribution commissions in 2017-18.The widely heralded Jio moment of the mutual fund industry is right around the corner. Paytm is set to go live with its mutual fund distribution platform, Paytm Money, anytime this month. However, mutual fund distributors, which at the last count accounted for Rs 1.8 trillion of industry assets, are confident that there is no need for them to reshuffle their business model and reiterated the importance of timely advice for investors.

Good news for media websites, users: Paytm introduces auto-debit feature

LATEST BUSINESS NEWS - In an effort to streamline the billing process of companies that run on cloud-based digital subscription revenue model, digital wallet company Paytm has introduced an auto-deduct feature by which monthly or annual subscription fees will be directly debited from users' Paytm wallet.

To enable the service, developers can log on to paywithpaytm.com/developers and download the relevant API to enable the service. After a one-time authorisation by the customer, the subscription amount would be auto-debited from the customer’s Paytm wallet at a given interval.

“Our easy-to-integrate subscription billing service would make payments easier and seamless than ever before while allowing new-age entrepreneurs to offer innovative services at a aggressive pricing. Developers can now have instant access to Paytm’s sandbox and can go live with this frictionless payment flow in no time,” Kiran Vasireddy, senior vice president at Paytm.


The platform has also created plug-ins for major e-commerce platforms, including Magento, Drupal Commerce and WordPress. The feature will be useful for digital subscription cloud based companies such as content apps and websites, newsletters, utilities and media companies among others.

Paytm currently has a user base of more than 185 million. It offers a range of payment solutions for online businesses that ranges from deep integration with apps and websites through scaleable APIs and SDKs. (READ MORE)