Google Pay lets you digitally buy and store gold from MMTC-PAMP India Pvt. Ltd. using your existing payment methods.
Google Pay needs to access your location to get gold prices from MMTC-PAMP.
What's your Gold Locker?
How to buy gold
To buy gold on Google Pay, follow these steps:
- Open Google Pay.
- Tap New.
- In the search bar, enter "Gold Locker." Then, search for that term.
- Tap Gold Locker.
- Tap Buy. The current market buying price of gold (including tax) appears. This price stays locked for 5 minutes after you begin the purchase, as the buying price may change throughout the day.
Note: Taxes may be different in different areas, based on your postal code.
- Enter the amount of gold you want to buy, in INR.
- There's no overall limit on the total worth of gold you can buy. However, there's a daily limit of ₹50,000 that you can buy in one day.
- The minimum purchase amount is ₹1 of gold. However, GAP accounts that total over ₹49,999 must follow Know Your Customer (KYC) norms before more purchases are allowed.
- Tap Check mark
.
- Select your preferred payment method in the window that appears.
- Tap Proceed to pay.
.After the transaction is confirmed, the gold should appear in your Locker within a few minutes.
You cannot cancel a purchase after the transaction is processed. You can, however, sell it back at the current market price.
If payment fails during your gold purchase, any money debited will be refunded within 3 business days.