Google is testing a new functionality on the Google Pay App where the person can send gold as a gift to their near and dear ones. This comes after Google had added the gold buying and selling option back in April for all the Google Pay users. The gold gifting features is now available in the v48.0.001_RC03 version of the App, which is not yet live and is currently only in the development stages.
Gifting gold to someone is a very popular tradition in India during the festive season or any occasion. Google wants to make that easy for the Indian users and let them send gold to anyone they wish with the tap of a button in the Pay App. Apparently, Google has teamed up with metal and mining service provider MMTC-PAMP to bring the gold buying/selling and gifting features on the App.
This development was first noticed by XDA developers who say that this test App consists of new strings that show the possibility of Google allowing users to be able to gift gold to each other. At the moment, there is no official word from Google for this feature but we can expect it to roll out in the coming weeks.
Based on the report by Livemint, the Google Pay Gold Vault feature lets users purchase 99.99% pure 24 K gold units from MMTC-PAMP. The gold is stored in a Gold Accumulation Plan (GAP) that MMTC-PAMP maintains by storing each user’s gold in the physical form as a custodian as long the user owns the gold. 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.