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The Economic Times

Paytm Gold to touch 1.5 ton in gold transactions

BENGALURU: One97 Communications which owns the digital payments company Paytm said that it is all set to cross 1.5 tons in gold transactions during the upcoming festive season and claims to have cornered 70% market share of MMTC-PAMP's virtual gold products in India.

Having seen a massive demand across states like West Bengal, Uttar Pradesh, Maharashtra, Delhi, Karnataka, Tamil Nadu, Telangana and Andhra Pradesh among other states the Noida based company claimed that tier 2 and tier 3 cities have contributed to 70% of the total sales.

“With launch of new services like gold Gifting and Gold Savings Plan, Paytm Gold is fast-becoming the preferred alternative to long-term savings and a convenient gifting option. We hope that during Raksha Bandhan and Varalakshmi, Paytm Gold will emerge as a proven alternative to traditional Gold Buying & Gifting yet again,” said Nitin Misra, senior vice president at Paytm.

Paytm is also running multiple promotional campaigns to push up sales of digital gold on the platform.
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