Amazon India has launched its digital gold investment feature, ‘gold vault’ on Amazon Pay. The e-commerce giant has collaborated with safegold for this feature and aims to provide users with digital gold at a bare minimum of prices.
The financial arm of amazon will now compete against other firms that offer digital payment methods including Paytm, PhonePe, Google Pay, and more.
Several firms along with Amazon pay have also been rising their digital gold services.
Amazon with its decision seeks to offer its customers the freedom to buy and sell the amount of gold at any time with spirited pricing. it further aims to provide a hassle-free experience while eliminating the need to rent a locker for the same.
According to an Amazon representative “We believe in innovating on behalf of our customers to create newer experiences for them. As part of this commitment, we are constantly evaluating new areas and opportunities to connect with and serve our customers. This has led to Amazon Pay launching digital gold services in partnership with Safegold,”
In addition to these popular digital currency firms, messaging app, Whatsapp has also been looking to initiate its financial services in India.
Recently, Amazon rolled out e-pharma services in India under Amazon Pharmacy with competing with the retail giant Reliance Retail.