PhonePe becomes largest platform for buying digital gold with 35% mkt share

With over 35%market share, the Walmart-owned firm which competes with Google Pay, Amazon Pay and Paytm has seen a more than 6X jump in the volume of Gold sold in the festival season

Peerzada Abrar | Bengaluru
Last Updated at November 19, 2020 00:07 IST

The company said the gold bought on PhonePe is 24K real gold that can be bought anytime, according to the customer’s budget, starting as low as Re 1.

Walmart-owned digital payments firm PhonePe said that it has emerged as the largest platform for buying 'digital gold' with over 35 per cent market share. The company, which competes with Google Pay, Amazon Pay and Alibaba-backed Paytm, also said that it has seen a more than 6X jump in the volume of gold sold in the festival season this year (21 days starting from Dussehra till Diwali).

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

MONTHLY

₹ 249

Select

ANNUAL

₹ 1799

Select

Best Offer

SMART ANNUAL

₹ 1499

₹ 1799

Opt for auto renewal and save Rs 300

Select

What you get on Business Standard Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Pick your 5 favourite companies, get a daily email with all news updates on them.
26 years of website archives.
Preferential invites to Business Standard events.