India’s largest mobile-first financial services platform Paytm has announced the launch of two new services – Gold Gifting and Gold Savings Plan as a part of its wealth management offering Paytm Gold. Customers can now send 24K 999.9 Purity Gold to each other instantly – offering them a convenient gifting solution.
More than 60% of Paytm Gold purchases are from tier 2 & 3 cities with millennial constituting the majority. The platform has witnessed repeat purchases of Paytm Gold worth up to Rs. 500 at regular intervals, - pointing at an increasing trend of consumers choosing Paytm Gold as the preferred method for long-term savings due to its simplicity & transparency.
Paytm’s latest Gold Savings Plan would help customers to conveniently & regularly save in gold as per their budget & requirement by entering the duration, frequency and amount of gold they want to save. They can easily keep track of all transactions done using their Gold Passbook with the added convenience of no lock-in period. Customer's Gold will be stored in MMTC PAMP’s secure & 100% insured lockers for free and they can get delivery of this Gold at anytime. This would eliminate additional fees associated with offline Gold purchase like making & locker charges, while offering customers access to trusted and affordable gold savings for the long-term.
Nitin Misra, Sr. Vice President - Paytm said, “Paytm Gold has been successful is drawing consumers to save Gold digitally in a cost-effective manner. We are excited to launch two truly differentiated wealth management products for our customers – Gold Gifting, which would address the need for gold gifting and Gold Savings Plan - a trusted & affordable means to save pure Gold regularly for long-term wealth creation. This year, we would focus on introducing these offerings to more customers, bringing a certain discipline to their savings habits and helping them achieve their financial goals.”