New Delhi: Paytm has rolled out a gold coin rewards feature that ties digital gold with daily payments on its platform. The company disclosed the initiative in a regulatory filing on September 25, noting that users will earn gold coins on transactions such as Scan & Pay, recharges, bill payments, money transfers, and online purchases.
The scheme applies to payments made through UPI, debit cards, credit cards, and net banking. According to the filing, credit card and RuPay credit card transactions made via UPI will earn double rewards. Paytm has pegged the reward value at 1% of each transaction in gold coins. However, the effective return for users is small. To earn 100 coins, one needs to spend Rs 10,000, and redeeming 1,500 coins requires a total spend of Rs 1.5 lakh. This translates into a benefit of around Rs 15 worth of gold on spends of Rs 1.5 lakh, or an effective cashback of 0.01%.
The launch comes just ahead of the festive season, a period when gold purchases typically increase in India. Industry watchers see the move as an attempt to tie routine digital payments to long-term savings in gold, an asset Indians continue to value both for cultural and investment reasons.
Paytm also pointed to recent additions on its app, including reminders for recurring expenses, monthly spending summaries, personalised UPI IDs, and downloadable UPI statements. By linking such features with a digital gold accumulation model, the company appears to be testing whether small rewards can influence payment behaviour and help users view digital transactions as a pathway to gradual savings.
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