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Walmart-owned PhonePe launches UPI SIP for investing in 24K gold

Setting up a gold SIP on PhonePe is a one-time, hassle-free process and all subsequent investments are completely automated

PhonePe
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Setting up a gold SIP is a one-time, hassle-free process and all subsequent investments are completely automated

Peerzada Abrar Bengaluru
Walmart-owned digital payments firm PhonePe said it has launched UPI SIP (systematic investment plan) for investing in gold. Users can now invest in the highest purity 24K gold of a specified amount every month and accumulate their gold in insured bank-grade lockers maintained by PhonePe’s partners, MMTC-PAMP and SafeGold.

The advantage of starting a gold SIP on PhonePe is the convenience of UPI (unified payments interface). The user has to just select the gold provider, mention the monthly investment amount and authenticate with the UPI PIN. Setting up a gold SIP is a one-time, hassle-free process and all subsequent investments

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First Published: May 25 2022 | 2:46 PM IST

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