This Dhanteras, the period which Hindus consider auspicious for buying gold and silver, Paytm has several offers, including a 100 percent 'goldback' and extra gold worth Rs 1,500 on gold purchases on its digital gold platform: Paytm Gold.
The e-platform will give every 100th customer who buys 24K MMTC-PAMP gold via Paytm Gold 100 percent goldback (similar to how cashback functions) up to Rs 1,000. The minimum purchase value is Rs 1,000 and customers can use promo code ‘LUCKYGOLD’ to avail this offer.
The winners will be selected automatically from the system and the goldback will be credited within 48 hours into the winner's Paytm Gold locker.
To receive extra gold worth up to Rs 1,500, customers can apply code ‘FESTIVEGOLD19’ on their Paytm Gold purchase. To be eligible, users will have to make a minimum purchase of Rs 500 to receive one percent extra gold. The promo code is valid till December 31 and has to be applied before payment.
As per reports, Paytm Mall has collaborated with leading jewellery stores where customers across India can redeem Paytm Gold to make purchases.
The move comes as part of the company’s online-to-offline (O2O) strategy and coincides with Dhanteras festivities.
Customers will now be able to avail the offer to purchase jewellery against accumulated gold at over 100 stores of brands such as Caratlane, Kalyan Jewellers, Malabar Gold & Diamonds, PC Jewellers, and Senco Gold & Diamonds.
Additionally, customers will get five percent goldback during the inaugural period.
"The plan is to expand to 250 stores by November, with three times growth in Paytm Gold sales during the festive period. Tier II and III cities have been major contributors, with a staggering 70 percent share of total sales," the report quotes Paytm Vice President Narendra Yadav as saying. He expects this number to increase going into the festive Dhanteras, Diwali period.