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Paytm is expanding the commercial use cases for its Digital Gold offering by partnering with CaratLane to enable users to purchase jewellery through its platform, a move that could deepen engagement with its precious-metals user base while giving the jewellery retailer access to another digital distribution channel.
Under the partnership, users can browse and purchase CaratLane jewellery directly through the Paytm app and redeem their accumulated Paytm Digital Gold towards the purchase. The balance, if any, can be paid through Paytm UPI, credit or debit cards, net banking or other available payment options. The move effectively connects Paytms digital savings proposition with physical jewellery consumption, creating an integrated journey from accumulating gold digitally to using those holdings for jewellery purchases. For CaratLane, the tie-up provides an additional online channel to showcase its products and potentially reach Paytms large consumer base. The catalogue will feature rings, earrings, pendants, necklaces, bangles and bracelets across everyday wear, gifting, weddings, festivals and other occasions. Prices, including applicable making charges and GST, will be displayed before purchase. CaratLane will manage packaging, fulfilment and home delivery across its serviceable pin codes, while customers will be able to track orders through Paytm. We are introducing jewellery shopping on Paytm with CaratLane to extend Paytm Digital Gold from saving to jewellery purchases. Gold has always held a special place in India, and accumulated Paytm Digital Gold can now be used towards CaratLane jewellery, with a wide choice of designs across price points and the flexibility to pay the balance through other payment options, said Veer Mishra, Vice President, Paytm. The partnership comes as Paytm continues to build use cases around its digital gold offering, which also allows users to make one-time purchases and invest through daily, weekly and monthly SIPs. Paytm Digital Gold is 24K pure gold fulfilled by MMTC-PAMP, with the underlying gold stored in insured vaults. CaratLane Managing Director Saumen Bhaumik said the partnership would connect digital wealth creation with physical jewellery consumption. Partnering with Paytm allows millions of Digital Gold holders to effortlessly convert their savings into timeless CaratLane designs. We are bridging the gap between digital wealth creation and physical luxury, giving our customers total freedom over how they spend and sparkle, he said. The partnership therefore extends beyond a jewellery catalogue on Paytm, creating a new commerce use case for Digital Gold while combining Paytms payments infrastructure with CaratLanes jewellery portfolio and fulfilment network. (ANI)
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