You may soon be able to gift gold to your friends and family or practically anyone through Google Pay app. Earlier this year, Google had partnered with metal and mining service provider MMTC-PAMP to bring this functionality in order to enable customers in buying and selling gold in its payment app. The new feature will also enable gold gifting options in the app.
The development was spotted by XDA developers, inside Google Pay v48.0.001_RC03. According to the report, the version contains new strings that indicate that Google is moving one step forward and allowing users to gift gold to each other. The feature has not gone live yet and it is not clear when it will roll out as there is no official announcement by Google yet.
Google Pay added the Google Pay Gold Vault feature of buying and selling gold via the app sometime in April. It 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.
Google Pay has become a preferred app for digital transactions in India. Accordign to the fifth edition of its annual 'Google for India' event in September, Google announced that Google Pay surpassed PhonePe to hit 67 million monthly active users (MAUs).