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To make Google Pay more useful for Indian customers, Google has partnered with MMTC-PAMP India to introduce buying and selling of gold through the app.
Through this partnership with India’s only London Bullion Market Association (LBMA)-accredited gold refinery, Google Pay users will be able to buy 99.99 per cent 24-karat gold.
Ambarish Kenghe, Director, Product Management, Google Pay, India, said: “Gold is core to Indian culture and tradition, making India the world’s second largest consumer of gold. Indians buy gold to mark auspicious occasions each year, be it Akshaya Tritiya, Dhanteras or Diwali. Keeping this in mind, we introduced the gold buying and selling feature on Google Pay for millions of Indians who can buy gold whenever and wherever through their mobile phones.”
Google Pay users can now purchase gold for any value, which will be stored on behalf of the user in secure vaults by MMTC-PAMP.
Users can buy and sell this gold any time at the latest price, refreshed every few minutes on the Google Pay app.
Other mobile wallet providers such as Paytm, MobiKwik and PhonePe too provide the facility of buying gold from their wallet apps.
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