Aiming to make Google Pay more useful for Indian users, Google on Thursday announced its partnership with MMTC-PAMP India for buying and selling of 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 per cent 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 whenever and from wherever, right from their mobile phones," said Ambarish Kenghe, Director-Product Management, Google Pay, India.
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