Paytm starts gold biz; eyes broader wealth management play

  • Paytm started selling gold to tap wealth management business by partnering with Metals and Minerals Trading Corporation of India and PAMP SA of Switzerland.
  • Customers could purchase gold at Re 1 and above.
  • The digital gold will be stored in MMTC-PAMP vaults and could be delivered home or resold online.
  • Paytm’s founder and CEO Vijay Shekhar Sharma believes Indians invest in gold and it would be an advantage for them to enter a wealth management business.
  • Paytm is working on financial products like mutual funds, insurance, etc.
  • Being in the payments business, Paytm entering wealth sector will expand their business and market share.
Source: http://bit.ly/2oRQEYc 

 

 

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