Airtel Payments Bank has launched a digital platform that customers can use to invest in gold. The new platform is called DigiGold and has launched in partnership with SafeGold, a provider of digital gold.
Customers who have a savings account with Airtel Payments Bank can invest in 24-carat gold using the Airtel Thanks app and using this platform they can also send and receive DigiGold to their friends and family as long as their friends and family have a savings account with Airtel Payments Bank.
Airtel Payments Bank is a subsidiary of Bharti Airtel and is an Indian Payments bank headquartered in New Delhi, India. It is also the result of a partnership between Bharti Airtel and Kotak Mahindra Bank.
The payments bank revealed that users could invest whatever amount they deemed fit, that there was no minimum investment value. “The gold purchased by customers is stored by SafeGold at no additional cost and can be sold through Airtel Thanks app at any time in a matter of few clicks”, it explained in a statement.
Airtel Payments Bank is known for providing value-driven products and partnering with other top companies. DigiGold is therefore the newest member of the bank’s range of products that aim at providing banking solutions in a simple, safe and convenient. Announcing the new development, the company’s Chief Operating Officer; Ganesh Ananthanarayanan said that “our customers can now invest in gold through a seamless digital journey on our app. We also plan to introduce Systematic Investment Plans to enable customers to invest regularly”.
Guarav Mathur, the Managing Director of SafeGold emphasized the need for Indians to be able to purchase and sell gold via digital platforms and mentioned that gold is a part of the investment portfolio of almost every Indian person. “Gold has seen a resurgence over the past year as the savings instrument of choice, and we are proud to have partnered with Airtel Payments Bank to offer customers range of digital gold-related products in the manner and value of their choice”, Mathur said.