RJ Market Watch
Freecharge joins hands with SafeGold to launch digital gold offering
Perfectly timed for the upcoming festive season, Freecharge on Wednesday announced the launch of digital gold offering for its customers. The service is launched in collaboration with SafeGold. This offering will enable customers to easily buy gold online, eliminating the hassles related to transparency, security and storage of gold.
The digital gold offering at Freecharge will allow customers to not only purchase gold instantly online, but also enable them to determine the value they want to invest, as economically as Rs 1. At any given point in time, there are active buyers of gold and hence customers can also sell the gold-holding online whenever they want and get the money transferred in their bank account. The gold accrued can be redeemed at select partner jewellers against purchases.Thus, Digital Gold offering also cuts the need to rush to a physical store during auspicious occasions like Akshaya Tritiya or Dhanteras.
Siddharth Mehta, CEO Freecharge said, “Increasingly the focus at Freecharge is to be able to offer a wider suite of digital financial services to its customers and become a valued partner in their financial investment journey. Digital Gold is an addition to our existing range of products and our intent is to continue to extend similar be-spoke digital products with frictionless user experiences and build Freecharge into a complete financial services platform.”
Speaking on the launch, Siddharth further added, “Onset of this festive season gives us the perfect opportunity to launch our digital gold offering. This partnership with SafeGold is another step towards augmenting customer experience. Simplifying features like instant online delivery, 24/7 access to transparent dynamic prices and minimal cost of investment to begin with, we want to enable customers to buy, sell and store pure gold at the click of a button.”
“Online purchase of Gold is still a nascent yet fast-growing market in India. Our partnership with Freecharge will help in improving transparency and efficiency when consumers buy gold in India. The focus is on driving mass adoption at affordable ticket sizes. SafeGold’s structure is in line with global best practices that puts a premium on protecting consumer interests through an independent trustee and custodian. In partnership with Freecharge we plan to introduce products, which will make it easier for Indian consumers to accumulate wealth and earn returns on their gold holding,” said Gaurav Mathur, managing director of SafeGold.
Freecharge’s objective, as a part of Axis Bank, is to make itself a comprehensive and open digital financial service platform that can facilitate a suite of offering to its consumers enabling them with accessibility and choice of service.
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