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Paytm eyes five-fold growth in gold sales on Dhanteras, Diwali

Plans to invest Rs 10 crore in marketing to bring more customers on board

Press Trust of India  |  New Delhi 

Paytm Diwali Plan

expects a five-fold growth in through its platform during and this year.

Paytm, which had partnered with gold refiner MMTC-PAMP to allow consumers to buy gold through its platform, also plans to invest Rs 10 crore in marketing to bring more customers on board.


"loves gold, and during festivals like Dhanteras, this love manifests itself more than ever as millions of our fellow countrymen purchase gold," Senior Vice-President Nitin Misra said in a statement.

The company, he added, has witnessed an initial surge in demand and expects this to grow further during and

"As customers purchase gold during auspicious occasions, the company is expecting 5x growth in (number of transactions) during the upcoming and Diwali," he said.

The company is witnessing nearly 2 million monthly transactions for Gold. It is offering 3 per cent extra gold -- up to Rs 4,444 -- on a minimum purchase of Rs 10,000.

"will also invest Rs 10 crore in marketing to reach out to customers in small cities and educate them about the flexibility, security and transparency of buying gold on the platform," Misra pointed out.

Earlier this year, had teamed up with MMTC-PAMP to allow consumers to buy gold for as low as Re 1. Under the partnership, wallet holders could purchase 24-karat 99.9 per cent purity gold online and store it in MMTC-PAMP- secure vaults free of charge.

They can sell their accumulated gold to MMTC-PAMP at live market prices instantly or choose to get it delivered at their doorstep in the form of gold coins.

First Published: Thu, October 12 2017. 15:25 IST
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