Profile
Log In
Sign up
This website uses cookies. Some are necessary to help our website work properly and can't be switched off, and some are optional but can optimise your browsing experience. To manage your cookie choices, click on Open settings.
Profile
Log In
Sign up
    Cash for gold! Indian company unveils country’s first ATM for precious metal05:13

    Cash for gold! Indian company unveils country’s first ATM for precious metal

    India, Hyderabad
    Human InterestScience and Tech
    December 12, 2022 at 04:56 GMT +00:00 · Published

    Hyderabad-based Goldsikka Limited opened a real-time gold ATM at Begumpet in the city on December 3, allowing customers to buy the precious metal without having to go to a jewellery store.

    The ATM has a storage capacity of 5 kg of gold at once. The machine offers eight different weights and quantity options for gold to be dispensed. These weights range from 0.5 grams to 100 grams. Customers can use their debit or credit card to purchase gold coins of various denominations.

    The prices are displayed live on screen while the coins, issued in tamper-proof packaging, come with a certificate guaranteeing 99.9 percent purity. All are 24 carat gold, the purest form.

    The 24/7 ATM was installed in partnership with OpenCube Technologies Pvt Ltd, a Hyderabad-based software company that offers solutions to various economic and financial needs.

    The company plans to launch three machines - in Hyderabad, at the airport and in the old city - and also intends to launch them in the Karimnagar and Warangal areas. The company has plans to install over 3,000 machines all over India in the coming two years.

    Cash for gold! Indian company unveils country’s first ATM for precious metal05:13
    TrendingView all videos
    Top downloads in last 24 hours
    Pool for subscribers only
    00:46
    Drone captures water gushing from breached dam following Kakhovka Hydroelectric Power Plant explosionDrone captures water gushing from breached dam following Kakhovka Hydroelectric Power Plant explosion
    June 6, 2023 at 08:26 GMT +00:00
    03:30
    Egypt: Historic Al-Zahir Baybars Mosque reopens after renovation Egypt: Historic Al-Zahir Baybars Mosque reopens after renovation
    June 5, 2023 at 12:50 GMT +00:00
    Pool for subscribers only
    00:11
    Titanic’s treasure: Lost necklace made from megalodon shark tooth discovered in wreckage after 111 yearsTitanic’s treasure: Lost necklace made from megalodon shark tooth discovered in wreckage after 111 years
    June 5, 2023 at 17:34 GMT +00:00
    02:40
    Ecuador: 'Everything was lost' - Locals struggle in aftermath of heavy rain and severe flooding in EsmeraldasEcuador: 'Everything was lost' - Locals struggle in aftermath of heavy rain and severe flooding in Esmeraldas
    June 6, 2023 at 06:43 GMT +00:00
    Show more
    Description

    Hyderabad-based Goldsikka Limited opened a real-time gold ATM at Begumpet in the city on December 3, allowing customers to buy the precious metal without having to go to a jewellery store.

    The ATM has a storage capacity of 5 kg of gold at once. The machine offers eight different weights and quantity options for gold to be dispensed. These weights range from 0.5 grams to 100 grams. Customers can use their debit or credit card to purchase gold coins of various denominations.

    The prices are displayed live on screen while the coins, issued in tamper-proof packaging, come with a certificate guaranteeing 99.9 percent purity. All are 24 carat gold, the purest form.

    The 24/7 ATM was installed in partnership with OpenCube Technologies Pvt Ltd, a Hyderabad-based software company that offers solutions to various economic and financial needs.

    The company plans to launch three machines - in Hyderabad, at the airport and in the old city - and also intends to launch them in the Karimnagar and Warangal areas. The company has plans to install over 3,000 machines all over India in the coming two years.