Merchant payment platform BharatPe has introduced the digital gold product on its platform for merchants in association with Safegold. Safegold is a digital platform that allows customers to buy, sell and take delivery of 24k physical gold, at low ticket sizes, around the clock.
"The launch of ‘BharatPe Gold’ has been timed to add to the celebrations in this festive season. A merchant can start investing in gold for as low as Re. 1," says BharatPe.
Merchants will get an entire gamut of financial products with the launch of digital gold on BharatPe, a company statement said.
"We had received a number of requests from merchants to launch gold on our platform. We are already seeing the great response and have sold 200 grams of gold on the day of the launch," Suhail Sameer, Group President, BharatPe, said.
Merchants will be able to buy and sell 99.5 per cent purity, 24-carat gold and they can choose to buy in rupees or grams, at any time of the day and from anywhere, by using the BharatPe app. BharatPe aims to sell 6 kg of gold leading up to Diwali.
BharatPe will be adding credit/ debit cards as payment options in the near future. The gold purchased is kept safely at the 100 per cent insured lockers with Safegold, at no extra cost.
A merchant can also opt for delivery of physical gold. He can also sell the gold with the option of choosing BharatPe registered account or his bank account for the credit, BharatPe said.