To represent Google Pay in a more useful form to the Indian users, Google declared its partnership with MMTC-PAMP India for purchasing and selling gold through the potential application.
MMTC-PAMP India is actually an internationally acknowledged metal and mining service provider. The company claimed in a statement, “ Google Pay users would be able to buy 99.99 percent, 24 karat gold after this partnership only with LBMA accredited gold refinery”.
With this deal, Google Pay users can buy gold for any value that will be deposited in secure vaults on their behalf my MMTC-PAMP. The users can buy and sell the gold any time at the latest price, revived every few minutes, as presented on the Google Pay app.
The Director-Product Management of Google Pay, in India, Ambarish Kenghe told, “Gold is core to Indian culture and tradition, making India the world’s second largest consumer of gold. Keeping this in mind, we introduced gold buying and selling feature on Google Pay for millions of Indians who can buy gold right from their mobile phones ”.
He also added, “ this feature is created for millions of Indians who buy gold especially during festivals like Akshaya Tritiya, Dhanteras or Diwali”.
The declaration came as the Delhi High Court asked the Reserve Bank of India and Google India Digital Services Private Limited to lodge a reply on an appeal claiming Google Pay not being listed as an authorized operator as per a list of the ‘Payment System Operators’. A division bench of Chief Justice Rajendra Menon and Justice Anup Jairam Bhambhani proceeded a notice to the RBI and Google India Digital Services Private Limited on a PIL filed by Abhijit Mishra. The petitioner has attempted to find direction to the RBI to block Google Pay operation in India. The petitioner has attempted to find direction to the RBI to stop the operation of Google Pay in India.