Paytm Gold aiming for threefold growth in sales this festive season

Paytm, the brand owned by One97 Communications, on Tuesday said Paytm Gold was now redeemable at partner jewellery stores across the country. The firm is adding gold offline as part of Paytm Mall’s overall online-to-offline strategy.

In an effort to make its omni-channel plan cover everything from buying groceries to precious metals effective, the company has collaborated with Kalyan Jewellers, Malabar Gold & Diamonds, PC Jeweller, Senco Gold & Diamonds and Caratlane to enable its users to buy jewellery by redeeming their accumulated gold. It is giving back cashbacks on offline transactions in for ‘goldbacks’.

“Customers will receive up to 5 per cent goldback as part of inaugural offer on the transactions done using Paytm Gold. This facility is now live in 100 plus stores and the plan is to add another 250 stores in the next 20 days. Paytm is aiming for 3x growth in sale of Paytm Gold while also expanding the overall industry size of digital gold in India,” the company said.