SendGold, a world-first open API gold platform, is LIVE with UPI – India’s leading instant payment platform

Published September 21, 2020 12:00AM UTC

Publisher Wholesale Investor

Categories Company Updates

Since January SendGold has grown transaction volumes by over 819 per cent and the average transaction size by over 311 per cent.

The SendGold team is now turning its focus on 12 offshore markets where their app is live and hard-won groundwork is laid.

SendGold has gone live with Unified Payment Interface (UPI) in India allowing Indian customers to buy gold from 142 banks.

UPI is a real-time, instant payment system developed by the National Payments Corporation of India facilitating inter-bank transactions. The interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform.

With UPI, SendGold’s Indian customers can now buy, gift and pay with Australian physical gold through a safe jurisdiction, instantly, without the friction and fees of other channels.

SendGold has been working to roll out this money-in channel, with many new in-bound payment options to come. The initial targets will be SendGold’s over 190,000 Indian Facebook followers.

As for money-out, all SendGold customers can already sell their physical gold 24/7 and redeem in over 90 currencies.

This announcement is in line with SendGold’s mission to crack open what makes global payments and owning assets so hard for so many investors.

About SendGold – a new gold standard

Money is not holding its value like it used to. The world as we know it is changing forever. So how you deal with money also needs to change.

The banking system is facing unprecedented crises, governments are printing huge sums of currency, cryptocurrencies are on a roller coaster ride, share markets are at extremely lofty valuations, all while people and businesses around the world are looking to move their wealth into safe-haven assets.

In times like these people turn to gold. And SendGold has turned it into a digital asset.

“We’ve transformed the world’s oldest trusted currency into the newest. Our world-first open API digital platform makes gold as accessible and usable as cash, increasing the currency for individuals, SMEs and brands around the world”, states SendGold CEO Jodi Stanton.

“SendGold places the power of gold in your hands, to use how you want, when you want.”