Paytm gold loyalty programme: How to earn gold coins on Paytm? All you need to know

Paytm’s parent company, One97 Communications, has rolled out a plan to convert loyalty points into gold, the fintech company said on Thursday, November 6.

Paytm will give gold coins even for person-to-person money transfers that can be converted into digital gold after the user surpasses a specific threshold, Sharma said.

"Your P2P and your UPI payment on Paytm are absolutely golden. And no other app can give you that level of incentive. I am talking about every other app that we saw in the market. We made it simple and clean, and there is no limitation on how much gold you can get and so on," Paytm founder Vijay Shekhar Sharma said while talking about the new loyalty programme.

Paytm users can convert their points into gold once the value reaches ₹15, he said.

Users will get one gold point for every ₹100 spent on the platform, Paytm Senior Vice-President Yugal Tiwari said. This reward will be doubled for payments made using Rupay cards.

How to avail this benefit?

You will earn 1% in gold coins of the transaction amount on every eligible payment and 2% in gold coins on transactions made using a RuPay Credit Card on UPI.

According to the company, every ₹100 that you spend using Paytm will give you 1 gold coin. 100 gold coins can then be redeemed as ₹1 worth of digital gold.

This means, if you spend ₹1 lakh from Paytm, you will get digital gold worth ₹10. So, to get 1 gram of digital gold, you’ll have to spend nearly ₹12.2 crore from Paytm (assuming the gold price is ₹1.2 lakh per 10 gram).

If you are a registered Paytm user above the age of 18 and a citizen of India, you’re automatically enrolled and eligible to start earning gold coins on your transactions made on the platform.

• Open the Paytm App. Make a transaction, after which you will see a pop-up of a scratch card.
• Scratch the card to see how many gold coins you won.
• You can also go to ‘cashback and offers’ and see all the scratch cards you’ve won. There, you will see your gold coin balance.
• On the App, scroll down and find ‘Gold Coins’
• Here, you will see an option: Convert to Real Gold.
• Click on it, and you will receive your ‘real gold’ in the form of digital gold.
• You can check your gold balance anytime under the ‘Balance & History’ section on your homepage.

Key things to know about the program

• You need at least 1,500 coins to start converting them into real gold
• Your gold coins will expire 12 months from the date of issuance, so redeem them within this period.
• To ensure fair usage, you can only earn 6,000 gold coins per day and 60,000 gold coins per month.
• On P2P transfers, you can earn coins on a maximum of 10 transactions per day and 100 transactions per month.

Individuals can earn gold coins through online shopping, scanning QR codes at local shops, money transfers, bill payments, recharges, etc.

Is digital gold safe?

While digital gold seems attractive, there are many risks attached to it:

Is it worth investing in digital gold through Paytm?

While it is difficult to earn real gold through Paytm, as a normal individual wouldn’t be able to spend crores just to get 1 gram of gold worth around ₹12,000, there's no downside to this. Many of us use Paytm anyway, which means if you make transactions through the platform, you’re already earning gold coins. So, you might as well earn the coins, with the hopes that maybe someday you can convert them into real gold.