In order to make Google Pay more useful for the Indian user, Google announced a partnership with MMTC-PAMP India on Thursday, which can now buy and sell gold through the Indian user app. MMTC-PAMP India Pvt. Ltd. is the internationally accredited metal and mining service provider.
In a statement, the company said, "After the partnership with India's only LBMA accredited gold refinery, Google Pay users can buy 99.99 percent or 24-carat gold," the company said in a statement. Additionally, Google Pay users can buy gold of any value, which will be kept in safe deposit by MMTC-PAMP on their behalf. Users can purchase and sell gold at any time on the updated prices that change every minute displayed on the Google Pay App.
Ambareesh Kenghe, Director (Product Management), Google Pay India, said, "Gold holds an important place in Indian culture and traditions. That is why India is the second largest consumer of gold in the world. Keeping this in mind, we have introduced the feature on Google Pay for the purchase and sale of gold, which millions of Indians can use. They can buy gold from mobile phones whenever they want and wherever they are.'
It is noteworthy that the Delhi High Court asked the RBI on Wednesday how the Google Digital Payment app is working on how to get the necessary clearance on Google. The court asked this question while hearing a PIL. The petition has claimed that Google is working in violation of Pay and Settlement Law.
