PhonePe becomes India’s first digital payments platform to launch Silver Investments
Customers can now access physical silver digitally and get safe doorstep delivery
National, September 29th, 2021: PhonePe, India’s leading digital payments company, announced the launch of its new feature to facilitate payments to buy silver coins and bars. The latest offering is an industry-first that allows users to invest in silver coins and bars of the highest certified purity on the PhonePe app with the added benefit of best prices and safe insured doorstep delivery.
Customers can choose from denominations of 10g, 20g, 50g and 100g silver coins or bars, and get them home-delivered. PhonePe has partnered with SafeGold, a reputed company in the field of silver & gold, to process payments for 99.99% pure silver with quality certification from an NABL-accredited laboratory. The coins and bars come with guaranteed weight and purity and are sealed in international quality packaging with a unique serial number that ensures foolproof quality and traceability for the product.
The app allows users to pay for silver coins and bar purchases, track delivery progress online, and avail support when necessary.
Speaking about the launch, Terence Lucien, Head of Mutual Funds, PhonePe said, “Silver has significant importance in Indian culture especially during festivals and other auspicious occasions. We are delighted to be the first payments platform to offer our 300+ million user-base the highest purity silver coins and bars.”
Gaurav Mathur, Managing Director, SafeGold added, “Online purchase of Silver coins and bars has become increasingly popular in the last few years. As we usher in the festive season, we are excited to partner with PhonePe and enable its users to purchase silver coins with assured purity, home delivery and best value in the most transparent, secure and organized way”.
To access silver coins on PhonePe, users would need to click on the Investments tab, then click on Gold & Silver, select the preferred silver coins, add the address for delivery, and pay. The product will then be delivered to the customer’s doorstep. Here’s how a typical silver coin purchase would look like on the PhonePe app:
PhonePe is India’s leading digital payments platform with over 300 million registered users. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, pay at stores, make utility payments, buy gold and make investments. PhonePe forayed into financial services in 2017 with the launch of Gold providing users with a safe and convenient option to buy 24-karat gold securely on its platform. PhonePe has since launched several Mutual Funds and Insurance products like tax-saving funds, hybrid funds, international travel insurance, life insurance, and insurance for the COVID-19 pandemic among others. PhonePe is accepted at 20+ million merchant outlets across India.
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