Paytm has partnered with India’s only internationally-accredited refinery – MMTC PAMP – to launch digital gold on its platform. This will allow customers to buy 24K 999.9 pure gold online and store it in MMTC PAMP’s most secure, 100% insured vaults at no additional charge. They can also request this gold to be delivered to their homes in the form of minted coins or sell it back online to MMTC PAMP.
Customers can now tap on the gold icon on the Paytm home-screen and buy international quality gold at transparent market-linked prices instantly. This will enable every Indian to buy, store and sell the world’s highest quality of gold as per their budget.
Currently, consumers transacting over Rs 50,000 through Paytm need to provide KYC details and the same will apply to the gold scheme. If the consumer wants to sell the gold later, MMTC-PAMP will buy the gold back from them and the money will be instantly transferred to the customer’s bank account. They can also request delivery, which will then arrive in customized packaging via trusted courier partners.
Here is a step-by-step guide to buy Digital Gold through PayTM app
Recently, Paytm has announced some changes in its terms and conditions. It said in a blog that in the month of November they launched a new payment platform for small merchants at 0% fee. Millions of merchants have accepted Paytm at their shops/establishments.