Google Pay Users Can Now Purchase 24-Karat Gold In India

Jyotis - Apr 12, 2019

With it, customers can make gold transactions according to the most updated price whenever they want.

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On April 11, Google has just revealed that the company collaborated with two Indian companies including MMTC and PAMP to develop the feature of supporting buying and selling gold on the Google Pay app. In addition to Google Pay, there are now a lot of similar services from Paytm, PhonePe, and Mobikwik.

The tech giant stated the partnership this time will help users to buy 24-karat gold (acclaimed 99.99%) on Google Pay.

According to Ambarish Kenghe, the Director Product Management of Google Pay in India,

Customers will have a chance to buy gold with any value, which MMTC-PAMP will be responsible for storing in safe vaults.

However, that’s not the most prominent characteristic of this feature. With it, customers can make gold transactions according to the most updated price whenever they want. The price of gold will be refreshed each some minutes on the app of Google Pay.

Only one day after the Delhi High Court required the Reserve Bank to explain how Google Pay was making financial transactions with no consent from the bank. In addition, the court sent notice to Google India and RBI to ask their opinions on this issue.

On April 10, a representative from Google confirmed that the company’s app met all of the legal requirements. He said,

The representative added that Google always pays its attention to the priority of data security, and the company also makes a commitment to comply with these laws. He said,