PhonePe allows users to buy silver coins, bars on its platform; to home-deliver purchase

Digital payments platform PhonePe has launched Silver Investments that will allow users to facilitate payments to buy silver coins and bars. The silver coins and bars on offer are of the highest certified purity, the platform said in a statement. PhonePe will also ensure safe doorstep delivery of the purchased silver.

The platform is offering denominations of 10g, 20g, 50g and 100g silver coins or bars, which will be home-delivered.

PhonePe has entered into a partnership with SafeGold to process the payments for 99.99 per cent pure silver with quality certification from an NABL-accredited laboratory. The coins and bars will be provided with guaranteed weight and purity, and will be sealed in an international quality packaging with a unique serial number. This will ensure that the product is foolproof and traceable.

The app will allow users to not only pay for silver coins and bar purchases, but also track delivery progress online and avail other support.

“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,” said  Terence Lucien, Head of Mutual Funds, PhonePe.

Gaurav Mathur, Managing Director, SafeGold said that online purchase of silver coins and bars have become increasingly popular in the last few years.

HOW TO BUY SILVER COINS, BARS ON PHONEPE:

• Open the PhonePe app, click on Investments tab
• Then pick Gold and Silver
• Select preferred silver coins
• Add address for delivery, and pay
• Once done, the silver coin purchase will be delivered to the buyer’s doorstep

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