Gold Worth of 120 crore has been transacted within six months: Paytm

Vastavam web: Mobile wallet company Paytm on Wednesday said gold worth INR 120 crore has been transacted within six months of launch of sales on its platform and the number of buyers crossed one million mark on the Dhanteras day.The company said it witnessed 12 per cent surge in gold sales on Dhanteras, which was celebrated yesterday across the country. It is an auspicious day to buy gold, silver and other metals. A landmark of over a million customers transacted the yellow metal worth INR 120 crore on its platform within six months of launch, it noted.

A majority of the customers purchased gold worth up to INR 500, while more than 70 per cent customers were millennials – pointing at an increasing trend of consumers choosing Paytm Gold as the preferred method for long-term savings, it said.Paytm partnered with India s only internationally accredited refinery MMTC-PAMP to launch Paytm Gold on its platform. This will allow customers to buy 24 carat 999.9 pure gold online and store it in the MMTC-PAMP s most secure, 100 per cent insured lockers at no additional charge.