NiYO-SafeGold combine expertise to launch Digital Gold

New-age digital banking solutions provider for blue-collar employees NiYO has launched Digital Gold on its NiYO Bharat App in partnership with SafeGold.

With this launch users can buy and sell 99.5% pure, 24-carat gold using a regional language app supported by Hindi Audio, starting from as low as Re 1. The company says that this launch is in line with the brand’s commitment to offer the entire gamut of digital financial services to the overlooked category of blue-collar workers.

NiYO has tied up with SafeGold, a digital platform that allows customers to buy, sell and receive vaulted gold. Niyo says that the new feature on Bharat App will provide better access to high-quality gold at small ticket sizes for blue-collar workers who are neglected by traditional financial service providers. The company also believes that this launch will not only encourage financial inclusion but also support the nation’s successful march towards Digital India.

Vinay Bagri, Co-founder and CEO, NiYO commented on this launch saying that the objective for launching gold on the company’s platform was to inculcate a long-term saving habit amongst its blue-collar users and thereby encourage financial inclusions. With the festive season around the corner, this is an opportune time for us to launch ‘Digital Gold’ for our app users, he said.

Speaking on the occasion, Gaurav Mathur, MD, SafeGold, said, “India’s digital payments landscape has experienced a wide range of manifestations over the past few years. Gold being a part of almost every Indian’s investment portfolio, it is imperative for the ecosystem to devise avenues that empower every citizen to buy and sell gold digitally. We are proud to have partnered with NiYO and we look forward to helping their unique set of consumers buy and sell gold in the value of their choice.”

The company's App users have the liberty to buy any amount of gold and sell it any time after completion of 24 hours of purchase. The users have an option to buy or sell gold in terms of rupees or in grams. After the purchase, the gold will be added to the customer’s ‘Gold’ account. Users can choose to get the digital gold in their account delivered at their doorstep in the form of a gold coin/bar.