Phonepe Partners With Jar To Introduce Daily Savings In Digital Gold

PhonePe, shared its partnership with Jar to introduce its new product offering ‘Daily Savings’ on its platform, enabling users to save money in 24-carat digital gold through incremental daily contributions. With Daily Savings, users can set aside as little as Rs 10 per day, up to a maximum of Rs 5000 per day in digital gold, empowering individuals to build a consistent savings habit.

Niharika Saigal, Head of InApp Categories, Consumer Payments, said, “We have seen a significant surge in adoption of digital gold on our platform in recent years. We are thrilled to introduce Daily Savings, a product designed to facilitate bite-sized everyday savings through 24-carat digital gold. By starting small and saving consistently, individuals can progressively work towards achieving their financial goals.”

Jar’s integration with PhonePe’s existing payment ecosystem ensures easy fund transfers and payments. Automated daily contribution makes it easy to save consistently without manual intervention. Users have the option to pause or cancel their Daily Savings anytime or redeem the gold for cash whenever they want.

PhonePe said it offers 99.99 per cent purity-certified 24K digital gold from leading and trusted partners, with over 1.2 crore customers from 19,000 plus postal codes in India having bought high-purity 24K gold on the PhonePe platform at transparent prices. The accumulated gold is stored digitally in the user’s account, backed by physical gold stored in secure vaults.

“We are excited to expand Jar’s capabilities beyond our platform and offer 360 degree services around gold savings, while also enabling users to convert their savings into jewellery through our in-house brand, Nek.” said Nishchay AG, Founder and Chief Executive Officer, Jar. “By offering our Gold Tech platform to PhonePe, we are enabling brands to seamlessly integrate gold savings into their services. This marks a significant milestone for Jar as we continue to empower businesses and individuals alike with simple, scalable solutions for financial fitness, making gold savings more accessible than ever.”