08:44 am - Thursday 27 April 2017

Buy gold, silver on your mobile

By Parvina Purkayastha - Tue Sep 18, 5:22 pm

The app will allow consumers to purchase gold and silver coins, besides giving investment reports among other things.

After enabling various commodities new mobile applications have been developed to allow consumers buy precious metals like gold and silver.

In India  the mobile application market has emerged as a major growth area for developers and there are estimated to be about 2.5 lakh app developers, with 15 million mobile subscribers being added every month in the country.

The latest addition to the mobile app space is the one by the 125 year-old non-banking financial giant Muthoot group, which has launched ‘Muthoot Group Apps‘  for Apple and Andriod phones and tablets.

The app will allow consumers to purchase gold and silver coins, besides giving investment reports among other things.

“In the present scenario ‘convenience’ is the most important criteria wherein the customer can book/buy from the comforts of his/her home and get over the delivery hassles/ billing counter, We believe that in the coming years, the sale of gold and silver coins via internet will become as popular as internet banking and online travel and tour booking,”  Muthoot Group.

Managing Director George Alexander- Muthoot , spoke to media and said, “Brick and mortar branches will always remain our main channel for extending our products and services to the customers. However, with the advent of new technologies, the number of consumers using mobile devices to browse and purchase have increased over a period of time and we, as a progressive organisation are always looking out for innovative means to provide greater customer convenience.”

India is expected to have 237 million internet-activated mobile connections by 2015, as a result of which entrepreneurs are focusing more on mobile apps which are internet-dependent, rather than SMS-based.

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