Indian users will soon able to Buy and Redeem Golds Digitally via Google Pay. Yes you heard it right, Google Pay will soon roll out an option via which users will able to buy golds digitally. Note that Google Pay Indian rivals PayTM and Phone Pe already have this feature. MMTC are the one who manages the Gold Accounts of user.
This report first came out when an author of paper.vc spots Google Pay looking forward to integrate buy and redeem golds via the platform. The funny thing is the author find these details on Google Pay terms and conditions page. He even share a screenshot which I mention below.
Google explains setting up a Gold account requires certain things from you. Below I mention all those things in Brief.
- To set up gold account, user have to first complete 2 factor authentication and KYC as ask by the Google.
- A Gold account must be setup by the user with their own name. However, the app will ask you to fill out the details of your nominee so that in case nominee will able to redeem gold in your account.
Well, These are two points Google will ask from the users when they try to set up Gold account in Google Pay. As I mentioned earlier setting up a Gold account in Google Pay is an upcoming feature which may not roll out. This is because Google have not made any official announcement from their side.
However, Don’t worry for now. We just let you aware that in future you may able to buy and sell Golds via Google Pay. Once we get further information, we will brief you.