Now you can buy gold for 1 rupee, Amazon Pay launches this feature
Amazon Pay Gold Buying Service Gold Vault, Amazon Launched Digital Gold Feature: Amazon Pay (Amazon Pay), the payment services arm of e-commerce giant Amazon India, has launched a great feature for customers. This feature has been named Gold Vault.
Amazon Pay, the payment services arm of e-commerce giant Amazon India, has launched a great feature for customers. The feature has been named ‘Gold Vault’. This is a feature that offers customers to buy digital gold. According to the information given on Amazon’s website, customers can buy 1 rupee of gold with this feature.
Amazon company has partnered with SafeGold for this. SafeGold is the retail brand of Digital Gold India Private Limited, which offers 245 carat gold of 995 purity (99.5 percent pure).
It is believed that by launching this feature, Amazon has managed a large number of middle and young customers. Which can pose a challenge to competing companies like Paytm, PhonePe, Google Pay, MobiKwik.
According to Amazon, through this feature, customers can also invest 1 rupee in gold as a digital option and if you want, you can buy up to 2 grams of gold without any KYC. However, initially through Gold Vault you will be able to buy digital gold for an amount of at least Rs.
However, this idea of digital gold shopping is not new. Earlier several other companies including e-commerce platforms like PhonePe, Paytm, MobiKwik and Google Pay have launched this facility and are already selling digital gold.
About this, Google Pay offered to invest in digital gold only in April last year. At the same time, both Paytm and PhonePe started offering digital gold on their platform in 2017, while Gurugram’s Mobikwik launched the offer in 2018.
Apart from this, online wallet company Paytm also offers its users cashback on any transaction in the form of Paytm Gold. It launched its Digital Gold product in October 2016 as a pilot project.
Not only this, some companies like Paytm also provide doorstep delivery of gold in the form of coins. Even Chinese electronics company Xiaomi has offered digital gold offer on its payment services arm MiPay in April.
