PayPoint partners with Dvara, making e-Gold accessible to rural India

Mumbai, November 13, 2020.

PayPoint India, a last-mile distributor of financial services, has partnered with Dvara to launch e-Gold on its platform. In keeping with its commitment to serve the proverbial bottom of the pyramid, PayPoint has taken a step towards yet another initiative to offer the entire gamut of financial products to those coming from India’s vast under-served rural areas.

Through this latest offering, tech-unsavvy rural customers can easily invest in e-gold with guided assistance from PayPoint store staff. The company has more than 48,000 tech-enabled offline stores across India.  Unlike buying physical gold, the Dvara SmartGold investment offers the convenience of investing in smaller denominations. Customers can invest as low as Rs. 500 on a daily, weekly, or monthly basis. It is also a safe investment instrument as every rupee of e-gold purchased is supported by physical bullion purchased and held securely in government-approved lockers managed by one of the world’s largest gold vaulting services providers.

Additionally, e-Gold investment provides high liquidity wherein customers can instantly cash on gold balances from their local PayPoint touchpoints. Through this uniquely crafted micro-savings plan, customers can save in small flexible instalments over time to achieve a degree of financial security for their family.

Commenting on the development, Ketan Doshi, Managing Director of PayPoint India, said, “PayPoint has always strived to offer customers a value-packed option. This association with Dvara Smart Gold is another milestone in our journey towards being best-in-class for our customers. Transparency in pricing and seamless purchase and savings are major advantages of this initiative. It is high in liquidity as one can sell it at any point of time with no impurity risks.”

Sanjeev Agarwal, Founder Director of Dvara SmartGold, said,” We are delighted to partner with PayPoint – one of the topmost Business Correspondents (BCs) in India. We look forward to work on our joint mission of financial inclusion and leveraging technology to connect the middle and lower-income households with a diverse range of financial products & services.”

In today’s unprecedented times when COVID-19 is ravaging the world, PayPoint is making every effort to mitigate people’s financial burden due to the crisis. While the current situation has brought the need for continual savings to the fore, the initiative would ensure people in India’s remotest part avail of steady investment options, thereby securing their Golden Future!

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