Amazon has launched its first digital gold transaction feature, ‘Gold Vault’ in India.
The Gold Vault is an add-on feature of the existing Amazon Pay. With thhis feature Amazon will now contend with various digital payment services in the country such as, Paytm, Google Pay, PhonePe, MobiKwik, Freecharge, ET money, and others who already have digital gold features.
The gold service by Amazon is in partnership with SafeGold, an organized and transparent gold buying service. With the service Amazon will offer its customers to buy gold at a cost as low as Rs 5.
“We believe in innovating on behalf of our customers to create newer experiences for them. As a part of this commitment, we are constantly evaluating new areas and opportunities to connect with and serve our customers. This has led to Amazon Pay launching digital gold services in partnership with SafeGold,” a spokesperson at Amazon said,
“It makes saving in gold as convenient as possible, and we have an exciting roadmap of product features ahead, including delivery and exchange for jewellery.” he added.
With Amazon Pays digital platform and SafeGolds flexibility for transactions, gold investments will become more convenient with this partnership.