Google has recently partnered with MMTC-PAMP India to enable it’s users to buy and sell gold through the Google Pay App just like its rival homegrown rival Paytm. For starters, MMTC-PAMP India Pvt. Ltd is actually an internationally recognised metal and mining service provider and Google Pay users will be able to buy 99.99 per cent of 24 karat gold. MMTC-PAMP is the only LBMA accredited gold refinery in India.
How will it work?
When Google Pay users purchase gold of a particular value it will be stored in secure vaults on their behalf by MMTC-PAMP. Then users can buy and sell the gold any time for the latest price. Prices will be refreshed once in every few minutes and will be displayed on the Google Pay app.
“Gold is very important to Indian culture and tradition, making India the world’s second largest consumer of gold. 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 smart phones,” said Ambarish Kenghe, Director-Product Management, Google Pay, India.
Overall this is going to be a nice initiative as it would let you save and earn zsome money in a secure way,