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Our Bureau

Hyderabad, Aug. 29

Zen Securities Ltd is planning to rope in 20 banks for payment gateway (online payment) arrangements in trading.

The Hyderabad-based financial services provider is currently in talks with banks for the purpose and almost sealed deals with HDFC Bank and State Bank of India, Mr Pratap Kantheti, Managing Director, Zen Securities, told newspersons after announcing the launch of its online trading portal here on Friday.

Currently, Zen has payment gateway arrangements with six banks, including ICICI, Corporation Bank and Axis Bank.

“We are also leveraging technology to enhance our offerings. Our Web site, www.zenmoney.com, will help investors trade in stocks and futures in both NSE and BSE,” Mr Kantheti said.

A client can get comprehensive information about his stocks, depository account and mutual fund holdings on the portal.

“We will soon enable the portal to buy and sell mutual funds and facilitate mobile trading,” he said.

Zen Securities, which has over 50,000 clients with 140 offices in Andhra Pradesh, Karnataka, Tamil Nadu, West Bengal, Orissa and Maharashtra, is working on further expansion.

“As of now, our aim is to tap the growing markets in Andhra Pradesh, Karnataka, Tamil Nadu and Maharashtra. Over the next two years, we hope to have national presence,” Mr Satish Kantheti, Joint Managing Director of Zen, said.

More Stories on : Financial Services | E-Commerce & E-Business | Andhra Pradesh

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