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Leading fintech platform MobiKwik, today announced that its customers can now convert their digital gold to gold jewelry from CaratLane, both online and at any of their stores in India.
In a first, this new offering in the 'Gold' category will enable users to purchase gold jewelry of their choice, against their digital gold balance. The feature is live for all Android and iOS users.
As a part of the special Diwali offer, MobiKwik users can avail an additional flat Rs. 1000 off on the purchase of jewelry against their digital gold balance.
However there is a catch as once the customer purchases gold from CaratLane through the Mobikwik app, it cannot be returned.
Upasana Taku, Co-founder, and Director, MobiKwik said, "With this alliance, we are offering a perfect amalgamation of online and offline, wherein MobiKwik customers can purchase gold jewelry at CaratLane stores, in exchange for the digital gold balance in their MobiKwik app. We are betting big on 'Gold' and are hopeful that this new feature will also receive an overwhelming response from our customers."
Added Taku, "This Dhanteras, I am going to buy digital gold on the MobiKwik app for my mother and mother-in-law and surprise them on Diwali with CaratLane jewelry purchased using my digital gold balance."
Exchanging gold from digital to physical through the MobiKwik app is a simple 3- step process and requires only a few seconds.
MobiKwik customers can walk into a CaratLane store or visit the CaratLane website and request the purchase of jewelry in exchange for their digital gold balance. The customer will need to share their registered mobile number and the quantity of gold (in grams) they wish to redeem.
Gaurav Mathur from SafeGold, "We are excited to be able to offer our customers the ability to redeem their SafeGold balance, accumulated by purchases through the MobiKwik app, at the CaratLane website and stores. This pilot gives greater functionality to our customers' SafeGold holdings and makes SafeGold the only digital gold platform in India, and MobiKwik the only fintech platform, to provide a seamless exchange in the form of jewelry."