New Paytm feature, users can buy up to 10 million digital gold
India’s domestic digital financial services platform Paytm has announced that it has recorded double growth in digital gold transactions during the last six months. Since the beginning of this financial year, new users have increased by 50 percent and the average order value has increased by 60 percent. With this, the total transaction volume on the platform has crossed the 5,000 kg milestone.
Customers can buy this much Paytm Gold
The company has now extended Paytm Gold Services to the Paytm Money platform, allowing users to buy and sell digital gold on any two platforms. The company has also announced the launch of its high-value transaction product feature, in which users will be able to purchase up to Rs 1 crore of Paytm gold on their app. Previously, it was possible for users to buy only gold up to two lakh rupees in a single trans session, with this change, users can buy more quantity of gold in a completely intuitive and transparent way.
Millions of people bought Paytm Gold
Paytm has registered a steady increase in the number of subscribers and so far over 730 lakh people have purchased Paytm Gold on the platform. About 40 percent of these buyers are from small cities and towns, indicating that people across the country are now considering digital gold as a serious investment option. This is further confirmed by the fact that Akshaya Tritiya of this year has sold two and a half times as compared to the previous year.
Paytm Money CEO Varun Sridhar said, ‘Now that the epidemic continues, Paytm’s digital gold has generated good interest among Indians who want to continue buying gold for investment purposes, personal use during this uncertain time and giving gifts, but prohibited from buying gold or going out to meet friends and family. We believe this trend will continue in the future, even after the epidemic ends because gifting is known as the ease of buying digital gold and its value as a prime commodity.
Considering its credibility as an integrated investment platform, Paytm Money will now allow users to buy and sell gold, allowing them to further control their investment plans. Digital Gold empowers citizens to make purchases for the amount of their choice, no matter how small, enabling them to calibrate their investment plans.
Company has big plans for users
The company said that we have big plans for this product and there may be major offers and promotions for digital gold in the near future. Paytm’s Digital Gold is 100 percent secure as it comes from MMTC-PAMP. Amidst the world’s most advanced gold and silver refining and mining facilities established as a joint venture between India’s MMTC (a Government of India undertaking) and Switzerland’s leading bullion brand PAMP SA.
