Paytm (One 97 Communications) today announced the launch of Gold Coins, a first-of-its-kind initiative where every payment earns Gold Coins that can be seamlessly converted into Digital Gold.
With this launch, Paytm turns everyday payments into an opportunity for long-term savings. Every transaction on Paytm including Scan & Pay at a merchant outlet, online purchases, money transfers, recharges, bill payments, recurring payments and more now earns Gold Coins worth 1 percent of the transaction value and 100 Gold Coins can be redeemed into Re 1 actual Gold. Payments made via UPI, credit cards, debit cards and net banking all qualify, while credit card and RuPay credit card payments on UPI earn double Gold Coins. The redemption process is seamless and also allows customers to purchase additional gold post redemption, further enhancing the value proposition.
The initiative comes at the start of the festive season, a time when gold purchases traditionally rise across India, and reflects Paytm's commitment to adding enduring value to digital payments. By converting Gold Coins into Paytm Digital Gold seamlessly, consumers can steadily build a reserve of one of India's most trusted assets.
Paytm, India's most trusted payments app, continues to drive product innovation in mobile payments with solutions that make money management more efficient and accessible. The company recently introduced ‘Reminders' for recurring expenses such as tuition fees and utility bills, along with a smart ‘Monthly Spend Summary' that categorises spends to help track finances with ease. It has also rolled out ‘personalised UPI IDs' for enhanced privacy, the option to ‘hide or unhide transactions', ‘downloadable UPI statements in Excel or PDF format', home screen widgets like ‘Receive Money' for faster payments, and a consolidated view of ‘total balances' across Paytm UPI-linked bank accounts.