New Delhi, April 18: Paytm (One 97 Communications Limited) made a significant announcement on Friday, enhancing its Paytm Gold service. The company has expanded its doorstep delivery of physical gold to over 12,000 PIN codes. This development makes it easier to convert digital gold balances into 24-carat gold coins, simplifying the process of purchasing and receiving gold across the country. Paytm is a leader in full-stack merchant payments, serving MSMEs and large enterprises, and is a prominent player in financial services distribution, mobile payments, QR codes, and soundtracks.
The company offers Paytm Gold in partnership with MMTC-PAMP, a joint venture between MMTC Limited (a government enterprise) and Switzerland’s MKS PAMP SA.
This service allows users to convert their digital gold balances into physical gold, providing greater flexibility and control over their gold savings. When redeeming physical gold, a nominal making and delivery fee applies.
On the Paytm app, 24-carat digital gold can be easily purchased starting at just ₹51, based on live market prices. This makes it simple to start saving in a reliable asset like gold and opt for doorstep delivery when converting to physical gold. Each purchase is backed by an equivalent amount of physical gold, securely stored in high-security, bank-grade vaults managed by MMTC-PAMP. There are no storage fees, ensuring a safe and reliable ownership experience. The service also allows users to sell their digital gold balances at any time based on live market prices, providing liquidity and flexibility when needed.
A Paytm spokesperson stated, “Gold has always been close to the hearts of Indians, especially during Akshaya Tritiya. With Paytm Gold, we are making it easier to convert digital gold into 24-carat physical gold and deliver it to homes across the country. This gives people the freedom to save in gold according to their needs.”
Physical delivery of Paytm Gold can be accessed through a few simple steps on the Paytm app:
– Open the Paytm app and search for Paytm Gold.
– Select the ‘Withdraw Gold’ option and proceed to ‘Physical Gold Delivery.’
– Choose your preferred quantity based on grams or value.
– Review the applicable making and delivery charges.
– Enter the delivery address and confirm.
– Proceed to confirm the request and complete authentication.
– Physical gold coins are processed and delivered to your doorstep within supported PIN codes.
Paytm also offers a ‘Daily Gold SIP’ feature. This allows users to invest small amounts daily, gradually accumulating a significant amount of digital gold over time. It promotes disciplined savings while providing the flexibility to convert holdings into physical gold when needed.
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