The payment solution service of Google – the Google Pay which was launched in India as Google Tez, then the company rebranded the application in last year. It has huge popularity in India and many people use this application as their primary solution for the payments. Well, now the Mountain View company Google has added a new option in this amazing payments app and that will allow users to buy gold.
The all new option for buying and selling service of the yellow metal is powered by MMTC-PAMP India, which is the country’s only LBMA accredited gold refinery. And this addition will allow users to purchase 99.99% 24 karat gold, directly from the Google Pay app. The gold, which can be purchased for any value, is stored on behalf of the user, by MMTC-PAMP, in secure vaults and can be sold at any time at the latest price.
Right now, we don’t have much information about this feature but it was said that in order to activate this feature users need to complete the KYC formalities.
Well, this is a good move by Google because the people of the country loves gold very much and this implementation will help Google to increase their share in the digital gold investment especially during the festival seasons.