Amazon Pay Digital Gold Services
Now digital gold can also be purchased from Amazon Pay like Google Pay, Paytm, Phone Pay. The company has started this feature. Users will be able to buy digital gold at an initial price of Rs 5 from Amazon Pay. The ‘Gold Vault’ feature of Amazon Pay is starting to show in the Amazon Pay section on the Amazon app. Amazon Pay has partnered with SafeGold to offer digital gold to users. SafeGold is offering 24-carat gold with 99.5 per cent purity.
With this feature, Amazon customers can buy and sell gold digitally at any time. SafeGold has partnered with leading brinks in Secure Logistics and Vault Services to insure your gold. Prior to Amazon Pay, Paytm, PhonePe, Google Pay, Mobikwik, Axis Bank-owned Freecharge etc. are also offering the facility to buy and sell digital gold from their platform.
According to an Amazon spokesperson, we believe in innovation to give a new experience to our customers. As part of this commitment, we are constantly exploring new areas and opportunities. In this direction, Amazon Pay has started Digital Gold Services in association with SafeGold. Customers can now easily buy digital gold for as little as Rs 5.
How to buy?
To buy digital gold from Amazon Pay, the user has to click on the Gold Vault icon in the ‘Amazon Pay’ page on Amazon’s app. After this, the user will have the option to buy and sell gold with the current price of gold. The amount of gold you want to buy, after putting that amount, how much gold will come in it, it will be a show. After this, click on ‘Proceed to Buy’ and proceed for payment.
Who will pay?
Payment can be made by credit or debit card, net banking and UPI. Digital gold cannot be purchased from Amazon Pay balance. Apart from this, Amazon Pay Letter / No Cost EMI option cannot be used to purchase Digital Gold. After the purchase is complete, gold will appear in your vault, which can be accessed from Amazon account anytime. All the gold transactions of the user can be viewed online by clicking on the Transaction History link. SafeGold will also send quarterly balance statements to the customer via email.
GST will be included in the purchase price
Gold prices are linked to the live gold rate, so a price will be valid only for 5 minutes. After that, it will be refreshed. 3 percent GST will be included in the purchase price of gold. There is no lock-in period for digital gold purchased from Amazon Pay.
Is delivery in physical form possible?
According to Amazon, digital gold cannot be delivered to the customer in physical forms such as jewellery or coins. However, the company is working on this feature and will make it available soon.
The money will be deposited in the account in 15 minutes on sale
If the customer bought digital gold from Amazon Pay, the sale would be at the then live rate. For this, tapping on the Gold Vault icon on the Amazon Pay page of the Amazon app, select the ‘Sell Gold’ option. On selling gold, customers can get their payment in UPI bank account of their choice. The money will go to the account within 15 minutes. If there is a delay due to some reason, it will take a maximum of 48 hours for the money to come.