E-commerce behemoth's financial services arm Amazon Pay has started off with its gold buying platform by the name 'Gold Vault' where users can buy digital gold for as less as Rs. 5. For this initiative, the company has partnered with SafeGold that offers 24K gold of 995 purity i.e. 99.5% pure.
Also, customers will have the flexibility to buy and sell gold of any amount whenever they wish to at competitive prices, doing away with the need to rent a locker for the storage of the precious yellow metal.
There are other platforms too that offer digital gold buying service including the likes of Paytm, PhonePe, Google Pay, MobiKwik, Axis Bank-owned Freecharge and among these some of them also have the option to let users buy gold for as less as Rs. 1, such platforms being Paytm, Google Pay and Phonepe.
Amid the lockdown when people are sticking by social distancing and avoiding unnecessary travel, digital buying platforms are being ramped up to capitalize on the current situation.