Paytm sees three-fold jump in gold sales on Akshaya Tritiya

Mobile wallet firm Paytm on Thursday said its gold sales rose three-fold to 20 kg in a single day on the occasion of Akshaya Tritiya on April 18.

Maximum sales were reported in Bengaluru, Delhi NCR, Hyderabad, Mumbai and Kolkata.

Over 1.5 million customers transacted 20 kg of gold items, mainly 24 carat gold coins, on its platform on the Akshaya Tritiya day this year, compared with 6.5 kg gold items on the same day last year, Paytm said in a statement.

"We will expand our product portfolio aggressively in the coming months that will bring wealth management to masses," Paytm senior vice-president Nitin Misra said.

Paytm customer's gold is kept in insured lockets with MMTC-PAMP, absolutely free of charge and they can get the delivery of their gold at any time, the company said.