Cashback on Paytm will now directly get converted into an online Gold Investment

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Paytm, which was known for giving cashbacks to customers from mobile recharges to movie tickets is now converting all cashbacks into digital gold investments.

How does it work

Launched in April, more than than 60% Paytm Gold customers are choosing to buy and accumulate gold according to their budget instead of selling or requesting delivery, without worrying the heavy fees for gold storage in physical lockers.

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This move can prove strategic to the company as customers who preferred e-wallets like Paytm usually stayed on for the cashbacks, no matter how little. This bargain of converting Paytm cash into Gold reserve directly encourages savings but customers cannot retrieve the cashbacks as easily as before.
To encourage the trend of saving in Gold further, the company is introducing cashback as Paytm Gold. That means, whether you are shopping online, paying utility bills or buying movie/travel tickets, you can earn pure gold kept for free in MMTC-PAMP's secured lockers.

Paytm Gold has witnessed huge interest across cities and towns from Burdwan, Dhanbad, Warangal, Kanchipuram to Delhi, Bengaluru, Hyderabad and Kolkata. On the Paytm platform, customers can buy 24K 999.9 Gold from MMTC-PAMP instantly and buy gold for as little as Re. 1, democratizing access to a wider set of customers as it will make investing in gold more affordable.

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This move can prove strategic to the company as customers who preferred e-wallets like Paytm usually stayed on for the cashbacks, no matter how little. This bargain of converting Paytm cash into Gold reserve directly encourages savings but customers cannot retrieve the cashbacks as easily as before.
E-wallets not De-wallets

This move can prove strategic to the company as customers who preferred e-wallets like Paytm usually stayed on for the cashbacks, no matter how little.

This bargain of converting Paytm cash into Gold reserve directly encourages savings but customers cannot retrieve the cashbacks as easily as before.

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This move can prove strategic to the company as customers who preferred e-wallets like Paytm usually stayed on for the cashbacks, no matter how little. This bargain of converting Paytm cash into Gold reserve directly encourages savings but customers cannot retrieve the cashbacks as easily as before.

The minimum amount that you can withdraw is equivalent to 1g coin plus making charges. Customers will also be paying for the delivery charge as applicable.

This means that cashbacks as we've known it in the past has changed with Paytm switching to Digital Gold, Mobikwik switching to loyalty cashbacks and Freecharge being under the radar as it gets ready to get acquired.

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Here’s why Uber wants to further 'Decongest India' and curb pollution

This move can prove strategic to the company as customers who preferred e-wallets like Paytm usually stayed on for the cashbacks, no matter how little. This bargain of converting Paytm cash into Gold reserve directly encourages savings but customers cannot retrieve the cashbacks as easily as before.

Flipkart lent its support to its transgender customers by inviting them to make art in company's premises

This move can prove strategic to the company as customers who preferred e-wallets like Paytm usually stayed on for the cashbacks, no matter how little. This bargain of converting Paytm cash into Gold reserve directly encourages savings but customers cannot retrieve the cashbacks as easily as before.

LinkedIn’s new Android App is targeted at the 'Real India' struggling to find jobs

This move can prove strategic to the company as customers who preferred e-wallets like Paytm usually stayed on for the cashbacks, no matter how little. This bargain of converting Paytm cash into Gold reserve directly encourages savings but customers cannot retrieve the cashbacks as easily as before.
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