Google will soon let users in India buy and sell gold through its payments app Google Pay, PTI reported. The company said on Thursday it had partnered with MMTC-PAMP India to allow users of the app to buy 99.99% pure gold. MMTC is a Indian government public sector trading enterprise, and PAMP is a Swiss company and bullion brand. MMTC-PAMP will store the gold in secure vaults on behalf of users, who will be able to sell it anytime at the price displayed in the app. Paytm, PhonePe and MobiKwik already offer variations of this service. Google’s announcement came a day after the Delhi High Court asked the Reserve Bank of India how Google Pay was operating in India without its approval. Google Pay enters a crowded field Paytm launched its wealth management service by offering gold to customers in partnership with MMTC-PAMP in April 2017. In March 2018, it launched Gold Savings and Gold Gifting. Gold Savings allows customers to regularly save in gold with no minimum amount. PhonePe has partnerships with two gold firms: SafeGold to let users buy and sell gold through its app; and MMTC-PAMP. The company said it hoped to offer a choice in terms of the grade of gold (SafeGold offers 99.95% pure gold vs MMTC-PAMP’s 99.99%) as well as a choice of service providers. MobiKwik partnered with SafeGold in October last year. Gold bought on SafeGold is added to the customer’s ‘MobiKwik Gold’ account and can be resold 24 hours after it has been…
- India’s Health Stack: Plans for “Single Source Of Truth” January 30, 2023
- Twitter plans to limit permanent account suspensions on its platform January 30, 2023
- What’s the deal with Andhra Pradesh’s new family doctor system? January 30, 2023
- Supriya Shekher on Rethinking Privacy Mandates In Antitrust Law | Meta India Tech Scholars 2021-22 January 30, 2023
- Private Explosives Manufacturer Hired By Defence Ministry Hit By Suspected Ransomware Attack January 30, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...