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Saturday, August 22, 2020

Amazon-Pay launches digital gold service, now gold can be bought for just Rs.

Amazon-Pay launches digital gold service, now gold can be bought for just Rs.

  • The customer will be able to buy and sell gold at any time
  • Facility to buy gold at Rs 1 also on Paytm, Google Pay and Phone Pay

With the rise of digitalization, people are now using digital sources not only for payment but also for buying gold. For a long time now, digital platforms like Phone-Pay, Google-Pay, MobiQuick, etc. have been offering online gold purchases. So now e-commerce company Amazon India's digital payment company Amazon-Pay has also launched a digital gold service. Under this, anyone can buy gold from any platform for just Rs. Amazon-Pay has dubbed this digital gold investment facility Gold Wallet. For this the company has partnered with SafeGold. SafeGold will offer buyers 99.5% pure gold of 24 carats.

Customers can buy and sell at any time

Under this offer, Amazon customers can buy and sell gold at any time. The special thing is that customers do not have to spend a locker for the safety of this gold. Customers can buy gold at a competitive price on this platform.

Other digital platforms also offer this feature::

Other digital payment platforms also offer this facility to buy digital gold. These include platforms like Paytm, Phone-Pay, Google-Pay, MobiQuick, Axis Bank's freecharge, etc. Most of the platforms like Paytm, Google-Pay, Phone-Pay also offer their customers the facility to buy Rs 1 gold.

Who started the Digital Gold Service?

Google-Pay launched the digital gold service in April last year.
Paytm and Phone-Pay have been offering digital gold purchases on their platform since 2017.


MobiQuick launched the service in 2018.

On Akshay Tritiya, Paytm sold 37 kg of gold
In April this year, on the occasion of Akshay Tritiya, Patim sold 37 kg of digital gold through its platform. As well, Phone-Peno claims to have sold 100kg of digital gold so far this year, including the festive season. Flipkart-owned PhonePay says digital gold transactions have increased 125% this year compared to last year. As a result, it is not wrong to say that the number of digital gold buyers has increased during the lockdown.

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