Buying silver online becomes easier before festivals: PhonePe introduces new functionality
Fintech major PhonePe, India’s leading digital payments company, announced on Wednesday the launch of its new feature that allows investors to buy silver coins and bars. With this announcement, Phonepe has introduced the first service of its kind that allows investing in pure silver and the investment will also receive a high certified purity via Phonepe. In addition, you benefit from the best prices and secure, insured door-to-door delivery.
âBuying silver coins and bars online has become increasingly popular in recent years. As we usher in the holiday season, we are excited to partner with PhonePe and enable its users to purchase silver coins with guaranteed purity, home delivery and the best price in a transparent, safe and organized way, âsaid Gaurav Mathur, Managing Director, named SafeGold.
With this first service of its kind, anyone who wants to invest in silver coins and bars can invest in denominations of 10g, 20g, 50g and 100g coins or bars. Regardless of the amount the investor will invest in, it will be delivered right to your doorstep.
This service is offered by PhonePe in partnership with SafeGold, a well-known and trusted brand in silver and gold
to process payments for 99.99 percent pure silver with a quality certificate from an NABL-accredited laboratory.
The coins and bars are delivered with a guaranteed weight and purity and are sealed in international quality packaging with a unique serial number that ensures foolproof quality and traceability of the product.
With the app, users can pay for purchases of silver coins and bars, track delivery progress online and get support if needed
âSilver is very important in Indian culture, especially at festivals and other auspicious occasions. We are proud to be the first payment platform to bring silver coins and bars of the highest purity to our 300 million+ user base, âsaid Terence Lucien, Head of Mutual Funds, PhonePe.
Wallmart-backed PhonePe is looking to aggressively expand into the fintech sector. The app made it clear that it is trying to reach a user base of 500 million with its consolidated services. According to data from the National Payments Corporation of India (NPCI), Phonepe is India’s leading payments platform with 314 million registered users and 46 percent of the market share for UPI payments. Phonepe recently acquired an insurance broker and an account aggregator license from the Reserve Bank of India. The insurance broker license allows the company to sell insurance to its users, and the account aggregator license enables the company to share agreed financial information.
HOW TO BUY SILVER COINS, BARS ON TELEPHONE:
Open the PhonePe app, click the Investments tab
Whoever wants to buy these coins and bars must first go to the Phonepe app.
Then choose gold and silver
After opening the app, click on the icon of gold and silver. On the left side of the app’s home page in your phone.
Select preferred silver coins
After clicking gold and silver, you will find a variety of options regarding the weight of coins and bars. You have to choose from all the options visible on the screen.
Add delivery address and pay
After selecting the coin or bar, you will need to add and confirm the address in order to have it delivered to your door.
After all of the above steps are done, the selected silver coin or bar will be delivered to the buyer’s doorstep