MMTC-PAMP delivers gold coins to customers who choose doorstep delivery and is able to buy back gold if anybody wants to sell the gold they have accumulated on Paytm Gold platform. Paytm Gold, a gold offering by digital payments firm Paytm, has generated robust demand since its launch this April, and the firm is expecting to sell gold worth Rs 1,400 crore in the current fiscal.
A rise in price of gold by more than 8 per cent from the beginning of this year has triggered a surge in gold transactions on the digital platform, said a top executive of Paytm, backed by Japan of Paytm, backed by Japan’s SoftBank Group and China’s Alibaba.
“The product has witnessed significant interest in tier II and tier III cities because customers in these locations didn’t have access to high quality gold at attractive prices. We are seeing demand across the platfor m with Goa, Kar nataka, Himacha Pradesh, Tamil Nadu, Punjab, Haryana, West Bengal, Gujarat and Chhattisgarh being the top markets for Paytm Gold,“ Krishna Hegde, senior vice-president, Paytm, told ET.
“Paytm Gold has witnessed high traction as consumers have begun shifting from traditional methods of buying gold to saving it online. We have regis tered a six times surge in d a six times surge in order volumes since its launch and are adding hundreds of ds of new users each thousands of new users each month. Our goal is to go deeper into every town and introduce this new form of long term savings platform to a wider set of customers across India,“ he explained. Paytm Gold has been launched in partnership with gold refiner MMTC-PAMP .
Customers can buy 24K 999.9 gold from MMTC-PAMP using the Paytm platform and store it in the company’s 100 per cent insured vaults at no additional cost.
MMTC-PAMP delivers gold coins to customers who choose doorstep delivery and is able to buy back gold if anybody wants to sell the gold they have accumulated on Paytm Gold platform.