Keeping into focus the interest of gold among Indians, Paytm Payments Bank is using Digital gold savings product to make business in small towns and semi urban locations.

Impact of Digital Gold

Places like Kanchipuram, Burdwan and Dhanbad are showing increased transactions on Paytm which are not among the target areas of mobile wallet companies.

How Paytm is working

Paytm is in the process of tying up with major jewellers across India to make digital gold available in the form of minted coins or jewellery.

The products are made available through its partnership with the popular precious metal processing facility like MMTC-PAMP.

What Krishna Hegde has to say

Krishna Hegde, senior vice-president of Paytm Payments Bank said” We are seeing increased traction among customers with districts like Godavari, Thiruvallur, 24 Parganas and others emerging as the locations with the highest demand. This product has definitely helped us make greater inroads into rural India “.Hegde said the company has been seeing a 150% growth in sales, number of users transactions across the country.