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Google Pay Could Soon Let You Gift Gold Using The App


Google announced the ability to sell and buy gold via the Google Pay (erstwhile Google Tez) app back in April 2019 joining hands with MMTC-PAMP, an internationally acclaimed metal and mining service provider to introduce this functionality.

Having seen the feature being popularize over time, Google's now likely planning to add a new feature that allows users to gift gold to others. This new Google Pay gold gifting option was spotted inside the app's code which means that it could be a while before we actually see the feature show up, but it's definitely there and its something that does make sense to include.

Folks over at XDA Developers spotted this new gold gifting option inside Google Pay version 48.0.001_RC03 and stated in a report that this new version contains new strings that indicate that Google is working on a feature that will allow users to gift gold to each other. There is no clarity on when this feature will roll out or how it will work. But as mentioned, the code suggests that the work has begun, but developers may decide to pull the plug on it, if something goes wrong in the development or testing phases.

As of now, Google Pay users can buy and sell 99.99% pure, 24 karat gold on the platform. Google notes that the purchased gold of any value is stored in secure vaults on their behalf by MMTC-PAMP. The users can buy and sell the gold any time at the latest price, refreshed every few minutes, as displayed on the Google Pay app.

Google Pay has become immensely popular in the country over the past year and a half and the extra layer of security that Google adds to secure transactions on the app seems to have played a part in garnering user trust. At the fifth edition of its annual 'Google for India' event in September, Google announced that Google Pay has outpaced PhonePe to hit 67 million monthly active users (MAUs).

The tech giant says that it grew 3x times in the 12 months before September, driving transactions worth over $110 billion on an annualized basis, with hundreds of thousands of offline and online merchants.

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