• GoldmattersGoldmatters Posts: 3,915 Admin
    If they are, they certaintly won't have the moat that Goldmoney has dug! Interesting find!
  • GoldIsCurrencyGoldIsCurrency Posts: 1,779 Gold ✭✭✭✭✭
    Interesting find @BigMouse , thanks for posting. I like how they have integrated so many business's right into their platform. I see they also offer a wide range of gold products right down to itty bitty 1 gram coins. Impressive. Also I like how they see jewelry companies as one of their potential client types, they have their thinking caps on. Although nowhere on their site does it say how much they actually charge for gold and I am always a curious one so I tried to sign up for an account to see what they are charging for gold but it wouldn't let me as my mobile phone number comes up as invalid. Their platform auto populates the area code as 91 which is India's area code, so it looks like their platform is currently only available in India. I am still left curious as to what type of premium they are charging on top of spot as a competitive comparison to Goldmoney.

  • PowerlunchmoneyPowerlunchmoney Posts: 274 Bronze ✭✭✭
    I hope Roy and Josh will keep some money in our coffers for this kind of international acquisition. It'll be interesting to see if they are able to get some traction in India. India comes with its own set of challenges no doubt.
  • Skookum_JimSkookum_Jim Posts: 124 Bronze ✭✭✭
    One of the countries where goldmoney mastercard isn't available is India - i suspect this may be part reason for this competitor to be able to take market in said country?
  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭

    I hope Roy and Josh will keep some money in our coffers for this kind of international acquisition.

    I think you might have that backwards. The parent company to paytm is one97 which is backed by alibaba. GM could not possibly afford to acquire paytm....but alibaba could easily acquire GM as a rounding error.

  • tomartotomarto Posts: 112 Copper ✭✭
    Not a big deal....India focused....also they say ""Your Gold is vaulted in India’s most secure and 100% insured facility.""
    ///not for me ....

    Now IF Amazon went in this direction ???? then that would be interesting!
  • BigMouseBigMouse Posts: 110 Bronze ✭✭✭
    Great info @GMONEY1, Did not know it was backed by Alibaba. The credit card in developing country is not very popular. So goldmoney card may not be a good fit. The mobile payment is and will be growing bigger and bigger. At least in China. I heard lots of people from rural places selling vegetable in city accept mobile payment... Does goldmoney offer mobile payment service?
  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    @BigMouse my understanding is that Goldmoney currently has p2p payments in gold between verified customers in the Goldmoney network. This can be p2p, b2c, or b2b as long as the two entities have a verified "personal" or verified "business" account. In terms of the mobile part, the app is available on Apple iOS, android, and web... And from the platform you can send gold to an email address or phone number (sms) but that assumes the recipient will either have or create a verified account.

    So this isn't a direct answer to the mobile payments question but gets pretty close. Others are free to add if I missed something.
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