Google Pay currently permits its users to shop and sell gold using the app. Tech largest company Google has partnered with MMTC-PAMP India, the country’s only LBMA authorized gold works company.
Using the app, Google Pay users are able to buy 99.99 percent 24 karats gold. Prices costs are refreshed every few minutes per day and will be displayed on Google Pay app. Gold purchased through the app are stored by MMTC-PAMP on behalf of the purchasers in secure vaults.
This feature is formed for millions of Indians who buy gold particularly throughout festivals like Akshaya Tritiya, Dhanteras or Diwali, the company asks in a blog post.
Speaking on the occasion, Ambarish Kenghe, Director – Product Management, Google Pay, India asks Gold is core to Indian culture and tradition, making India the world’s 2nd largest client of gold. Indians buy gold to mark auspicious occasions annually be it Akshaya Tritiya, Dhanteras or Diwali.
Keeping this in mind we have a tendency to introduced gold shopping and selling feature on Google Pay app for the millions of Indians who should purchase gold whenever and from where right from their mobile phones.
In most related news, Google Pay has taken the place on the Unified Payments Interface (UPI) platform in terms of the importance of transactions by a margin of around 25% in the country. Google Pay clocked payments price Rs 43,000-Rs 45,000 crores in March, ending of the financial year on a high, consistent with 2 industry executives tracking the area.
Both PhonePe and Paytm are asks to have done transactions price Rs 31,000-32,000 crore each, with PhonePe being marginally before Paytm.