Google Pay Users Can Buy Gold Through App: Everything You Need to know
Google Pay users would be able to buy 99.99 percent, 24 karat gold after this partnership with India's only LBMA accredited gold refinery.
Google Pay Update Brings Gmail Integration: Here Are The Details
Aiming to make Google Pay more useful for Indian users, Google on Thursday announced its partnership with MMTC-PAMP India for buying and selling gold through the application. MMTC-PAMP India Pvt. Ltd is an internationally recognised metal and mining service provider. "Google Pay users would be able to buy 99.99 percent, 24 karat gold after this partnership with India's only LBMA accredited gold refinery," the company said in a statement.
With this, Google Pay users can purchase gold for any value that will be stored in secure vaults on their behalf by MMTC-PAMP. The users can buy and sell the gold any time at the latest price, refreshed every few minutes, as displayed on the Google Pay app. "Gold is core 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 mobile phones," said Ambarish Kenghe, Director-Product Management, Google Pay, India.
The announcement came as the Delhi High Court on Wednesday asked the Reserve Bank of India (RBI) and Google India Digital Services Private Limited to file a reply on a plea alleging Google Pay not being listed as an authorised operator as per a list of the 'Payment System Operators'. A division bench of Chief Justice Rajendra Menon and Justice Anup Jairam Bhambhani issued notice to the RBI and Google India Digital Services Private Limited on a PIL filed by Abhijit Mishra.
The petitioner has sought direction to the RBI to stop Google Pay operation in India.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Smriti Irani Reveals Why She is Jealous of 'Bro' and Fitness Guru Micky Mehta in Insta Post
- Why Dyson Air Purifiers Are Smarter Than Most: Better Filters And Smarter Testing
- Reliance Jio Says India’s Monthly Data Usage is More Than 9GB Per Subscriber
- NASA Satellite Images Show Fires Still Burning May Be Reason for Poor Air Quality in North India
- 15-year-old Coco Gauff Beat Jelena Ostapenko to Win First WTA Title at Linz