PayTM sold 40 kg gold through Digital Gold product in 2 months | business-news | Hindustan Times
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PayTM sold 40 kg gold through Digital Gold product in 2 months

On buying digital gold on Paytm, the customer can buy gold online and store it in MMTC-PAMP’s vaults free of charge.

business Updated: May 17, 2017 14:29 IST
On buying digital gold on Paytm, the customer can buy gold online and store it in MMTC-PAMP’s vaults free of charge.
On buying digital gold on Paytm, the customer can buy gold online and store it in MMTC-PAMP’s vaults free of charge.(HT file photo)

A total of 40 kgs of gold were bought in the last couple of months through Digital Gold product, launched by PayTM, a senior company official said.

The product, launched in partnership with MMTC-PAMP, has received wide appreciation from the people and have bought Digital gold from as many as 4,000 pincodes, Krishna Hegde, PayTM senior vice-president, told reporters in Coimbatore.

With mobile wallet user base of over 220 million, the company was hoping that at least 40 to 50% of the customers would use its Digital Gold account to buy, store and sell gold within a short span of time, he said.

More than 1,000 users have bought digital gold totalling about one kilogram by 9am on Tuesday, Harshit Pande, MMTC India’s business development and strategy head, said.

On buying digital gold on Paytm, he said the customer would be able to buy gold online and store it in MMTC-PAMP’s vaults free of charge.

They can also request for their gold to be delivered at their home in the form of minted coins or sell it online instantly.