Google Pay Now Lets Users Buy, Sell Gold in India with MMTC-PAMP Partnership
Google is trying to upgrade Google Pay application for making it more useful to the Indian users. Google is now having a partnership with MMTC-PAMP in India, which will enable the user for selling and buying gold by using the Google Pay application in their smartphone. In case you are wondering what is MMTC-PAMP, they are the metal and mining service provider who is an internationally recognized organization.
In words of the MMTC-PAMP company “Google Pay users would be able to buy 99.99%, 24 Karat gold after this partnership with India’s only LBMA accredited gold refinery,”.
After this partnership, any Google Pay users can buy gold on any value, and the gold will get stored to a secure vault by MMTC-PAMP. It will also enable the users to why the gold in the current price and the pricing of the gold will get refreshed with the interval of a few minutes and it will be displayed on Google Pay.
This partnership is mainly focused on providing the gold on the auspicious festival like Akshaya Tritiya, Diwali or Dhanteras. Ambarish Kenghe, director and product manager of Google Pay India said in his statement “Gold is core to Indian culture and tradition, making India the world’s second-largest consumer of the world.
Earlier Paytm has also started this service with the partnership of MMTC-PAMP to provide 99.99% pure 24 karat gold. They also provided an option to purchase digital gold and save in their online Paytm account. Similarly, Google Pay is launching this product with many improvements and great offers.
Keeping this in mind, we introduced gold buying and selling feature on Google Pay for millions of Indians who can buy gold right from their mobile phones,”. He also said, “This feature is created for millions of Indians who buy gold especially during festivals like Akshaya Tritiya, Dhanteras or Diwali,”.
Delhi High court also asked the Reserve Bank of India (RBI) and Google India Digital Services private limited for the reply on a plea alleging on the matter that, on the list of ‘Payment System Operators’ Google Pay is not listed as the authorized operator.