To make the love for gold even more endearing, Paytm users shall now be able to have cashback even as digital gold. In a statement, Paytm said, this will combine spending and saving experience with an asset that is close to the hearts of Indians.
The company in partnership with MMTC-PAMP, India's largest gold refiner is selling for it gold on its platform. And consumer can buy even 1 g gold of 999.9 24K purity totally digitally on it for even as low as Rs. 1.
The e-mail response to a leading business daily by the wallet company said "users can choose to receive their cashback in their Paytm Wallet or as Paytm Gold".
"The company aims to encourage the habit of saving each time they spend, thus achieving long-term wealth creation for its users. Accumulated gold can be delivered or sold back to MMTC PAMP instantly," it added.
What as a Paytm customer you need to do to receive Paytm cashback as Paytm gold?
Paytm customers need to opt for a specific promo code to receive cash back as Paytm gold. The initiative has been taken by the company to promote saving with every spending.
"To encourage this trend further, we are introducing cashback as Paytm Gold... Whether you are shopping online, paying utility bills or buying movie/travel tickets (through Paytm), you can earn pure gold kept for free in MMTC-PAMP's secured lockers," Paytm Senior Vice President Krishna Hegde said.