World's first gold ATM launched in India
An ATM selling gold coins for money from credit or debit plastic cards began to serve customers in India’s Hyderabad (Telengana state), TASS reports
As noted by The Economic Times, this is the first ATM that operates in real time not only in India, but also in the world. It was produced by the private Indian company Goldsikka Pvt Ltd, which developed an innovative technology for selling gold. The ATM holds 5kg of 24-carat gold coins and makes it possible to purchase them in eight options: from 0.5 to 100 grams. Interestingly, the screen displays the gold value which is updated in real time based on changes in quotations for this precious metal on the London Stock Exchange.
The ATM is reliably protected from break-ins: it is equipped with video surveillance and an audible alarm. The possibility to contact the police quickly is also available.
Goldsikka representatives explained that their device helps customers invest into gold without a risk of losses. The advantage of the system is that they have no need to go to a bank or a jewellery store.
On the first day of operation, twenty persons used the ATM services.
Goldsikka plans to install three thousand such ATMs in India and enter the world market with its product.
