Festive season has started. If you are thinking of buying gold, then India’s largest merchant payment company BharatPe has launched Digital Gold on its platform. BharatPe has launched this new service in association with SafeGold. Which is a digital platform that allows customers to buy, sell and deliver 24 carat physical gold at a 24 hour low ticket size.
According to BharatPe, merchants can buy and sell 24 carat gold with 99.5 percent purity anytime, anywhere from the BharatPay app. Digital gold can buy or sell gold according to rupee and gram. The special thing is that gold can also be purchased from here for 1 rupee. BharatPe balance or UPI can be used for payment. Later on India will also add credit / debit card to the payment option.
Target to sell 6 kg gold till Diwali
BharatPe has targeted to sell 6 kg of gold till Diwali. Merchants will be able to see real-time prices of gold linked to global markets. There will also be a benefit of GST input credit on the purchase of gold. Merchants can also opt for delivery of physical gold. Merchants can get the amount received by the merchant for selling digital gold directly in the registered account of India or in their bank account.
Gold will remain in insured lockers
SafeGold has appointed IDBI Trusteeship Services to protect the interests of merchants regarding the purchase of gold. The gold purchased will be safely stored in 100% insured lockers with SafeGold at no additional cost.
200 grams of gold sold on launch day
According to BharatPe, the launch of Digital Gold on the platform will give merchants a full range of financial products. BharatPay Group President Suhail Sameer said that we had received a lot of requests from merchants regarding the launch of Gold on BharatPay platform. We are seeing good response from now and have sold 200 grams of gold on the day of launch. New features will be added to it. Our goal is to establish Digital Gold as a major vertical in the near future. The target is to sell 30 kg of gold in the financial year 2020-21.