New Delhi: This Dhanteras, purchasing gold can be started as low as Re 1. Merchant payment platform BharatPe in association with Safegold, has introduced digital gold product on its platform for merchants.
Merchants will get an entire gamut of financial products with the launch of digital gold on BharatPe.
Minimum investment limit
BharatPe Gold merchant can start investment for as low as Re 1. The choice of payment is either via BharatPe balance or UPI. BharatPe has said that in the near future, it will be adding credit and debit cards as payment options.
What is Safegold?
Safegold is a digital platform allowing customers to buy, sell and take delivery of 24k physical gold, at low ticket sizes. The services are available around the clock. SafeGold has appointed IDBI Trusteeship Services to protect the interest of merchants with regard to their gold purchases.
How much gold can one purchase?
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 using the BharatPe app.
Is your gold safe?
The gold purchased on this platform is kept safely at the 100 per cent insured lockers with Safegold. Buyers will not have to bear any no extra cost for this. Merchants can anytime check the gold balance by viewing the Gold Locker section on the app.
At what can you buy gold?
Merchants will get a real-time view of gold prices linked with global markets. After purchasing gold, it will be added to the merchant’s ‘BharatPe Gold’ section. They can also avail benefit of GST input credit if they buy gold. A merchant can also opt for delivery of physical gold. Merchant can also sell the gold with the option of choosing BharatPe registered account or his bank account for the credit.
Preparations for Diwali
BharatPe Group President Suhail Sameer has said that the platform had received a number of requests from merchants to launch gold on its platform. The payment platform is targeting selling 30 kg of gold in FY21. BharatPe aims to sell 6 kg of gold leading up to Diwali, he said.