Taking advantage of the ongoing festival weeks, Freecharge, a digital payment platform similar to Paytm, PhonePe, Google Pay and others, has inked a partnership with SafeGold in order to launch its digital gold offering for its customers, reported ET.
As part of the new offer by Freecharge, its customers could easily buy gold online without the fuss related to transparency, security and storage of gold.
Siddharth Mehta, CEO Freecharge said, “Increasingly the focus at Freecharge is to be able to offer a wider suite of digital financial services to its customers and become a valued partner in their financial investment journey. Digital Gold is an addition to our existing range of products and our intent is to continue to extend similar be-spoke digital products with frictionless user experiences and build Freecharge into a complete financial services platform.”
Freecharge was founded by Kunal Shah in 2010. It is a platform through which users can transfer money from one end to another using an online payment mode. Freecharge also offers credit, micro loans and insurance on its platform.
Besides purchasing gold instantly online, Freecharge via the digital gold offering, also allows customers to determine the value they want to invest in just INR 1.
Siddharth further said, “Onset of this festive season gives us the perfect opportunity to launch our digital gold offering. This partnership with SafeGold is another step towards augmenting customer experience. Simplifying features like instant online delivery, 24/7 access to transparent dynamic prices and minimal cost of investment to begin with, we want to enable customers to buy, sell and store pure gold at the click of a button.”
“Online purchase of Gold is still a nascent yet fast-growing market in India. Our partnership with Freecharge will help in improving transparency and efficiency when consumers buy gold in India. The focus is on driving mass adoption at affordable ticket sizes. SafeGold’s structure is in line with global best practices that puts a premium on protecting consumer interests through an independent trustee and custodian. In partnership with Freecharge we plan to introduce products, which will make it easier for Indian consumers to accumulate wealth and earn returns on their gold holding,” said Gaurav Mathur, managing director of SafeGold.