The partnership allows Paytm users to use accumulated Digital Gold towards eligible CaratLane jewellery purchases through the app
One97 Communications-owned Paytm has partnered with Titan Company-owned jewellery retailer CaratLane to allow users to redeem their accumulated Digital Gold towards jewellery purchases through its platform, expanding the utility of the company’s digital gold offering beyond savings.
Under the partnership, customers can browse CaratLane’s jewellery catalogue on the Paytm app and use their available Digital Gold balance to pay for eligible purchases. The remaining amount, if any, can be paid through UPI, cards, net banking and other supported payment options.
The arrangement enables customers to use the value of gold accumulated digitally towards the purchase of physical jewellery without first selling their holdings and completing a separate transaction. CaratLane will manage the fulfilment and delivery of orders placed through the Paytm app, while customers will be able to access order and tracking details on the platform.
The catalogue available through the partnership includes categories such as rings, earrings, pendants, necklaces, bangles and bracelets. Applicable making charges and GST will be displayed before customers complete their purchase, Paytm said.
The tie-up adds a consumption use case to Paytm’s Digital Gold product, which allows users to accumulate 24K gold through one-time purchases and daily, weekly or monthly investment options.
While Digital Gold represents a customer’s underlying gold holding, the purchase of finished jewellery will involve additional costs, including making charges and taxes. The available Digital Gold balance can therefore be used against the total purchase value, with customers paying any shortfall separately.
For CaratLane, the partnership opens another digital distribution channel through Paytm’s customer and payments platform. CaratLane is a wholly owned subsidiary of Titan Company and will provide the jewellery catalogue and fulfilment infrastructure for the offering.
