Goldsikka with technology support from city-based startup, Opencube Technologies has launched its first Gold ATM at Begumpet.
People are aware of the fact that ATM (Automated Teller Machine) are used to withdraw cash. In this India’s first gold ATM, people can insert their debit or credit cards into the machine and can get upto 100grams gold coins. This is the first real-time gold ATM in India.
Customers can buy gold coins weighing up to 100 grams in 8 options — 0.5 grams, 1 gram, 2 grams, 5 grams, 10 grams, 20 grams, 50 grams, and 100 grams. All that is needed is a debit card.
The machine is known as Goldsikka ATM and has a capacity of storing five kilograms of gold and eight options for the quantity of gold starting from 0.5 grams to 100 grams. On December 3, Hyderabad-based startup OpenCube Technologies Pvt Ltd provided technology support for Goldsikka Pvt Ltd’s launch of its first gold ATM.
“The prices are displayed live on the screen making it transparent and clear for the customers and the coins are dispensed in tamper proof packs certified with 999 purity,” Sy Taruj, CEO of Goldsikka said.
The company plans to launch three machines in the Hyderabad at the airport, old city and propose to launch them in Karimnagar and Warangal also. Their plans were being drawn to launch 3,000 machines all over India in coming two years, said by Sy Taruj, CEO of Goldsikka.
On the safety front, the ATM includes a built-in camera and sound alarm system. It was also informed that in case of a transaction failure, if the amount is debited and gold is not dispensed, then the customer will get back the money within 24 hours.