You can now buy gold on Paytm

Paytm founder, Vijay Shekhar Sharma on Thursday announced the launch of Digital Gold - a wealth management product on its e-wallets platform.

In partnership with MMTC-PAMP India – a joint venture between PAMP SA Switzerland and MMTC Ltd, accredited gold refinery, Paytm launched the option to buy 24.999K gold at live market prices on its platform.

Customers will be able to purchase 24K gold starting at Re 1 and maintain ‘Gold Balance’ online and even sell gold online.

The customers will also be able to buy gold and accumulate it in their respective online accounts.

On-demand delivery of the precious metal will also be provided by Paytm after 24 hours and customers will be able to sell online at any time, the company said.

The company further added that customers could do a real-time check of the trading price of gold in global standards.

This Akshaya Tritiya Paytm is also offering customers the option to buy gold online for Rs 11 and get Rs 11 cash back.

The company has also launched its food wallet and Paytm mall app this year.

Sharma said that they were looking to launch Paytm Payments Bank soon post the approval of Reserve Bank of India.