Paytm rolls out plan to convert loyalty points into gold

New Delhi, Nov 6 (PTI) Fintech firm One97 Communications, which owns the Paytm brand, has rolled out a plan to convert loyalty points into gold, the company said on Thursday.

The company also rolled out a new version of the travel platform with an in-app AI assistant that allows travellers to ask, browse, and make bookings through simple conversation.

The new travel app, launched with a beta version of AI, can recommend destinations, curate personalised itineraries, and organise bookings across flights, trains, buses, and metro, creating a seamless travel journey from planning to checkout.

Talking about the new loyalty programme, Paytm founder Vijay Shekhar Sharma said Paytm will give gold coins even for person-to-person money transfers that can be converted into digital gold after crossing a certain threshold level.

"Your P2P and your UPI payment on Paytm are absolutely golden. And no other app can give you that level of incentive. I am talking about every other app that we saw in the market. We made it simple, clean, and there is no limitation on how much gold you can get and so on," Sharma said.

He said Paytm users can convert their points into gold once the value reaches Rs 15.

Paytm Senior Vice-President Yugal Tiwari said users will get one gold point for every Rs 100 spent on the platform, and there will be double points allotted if payment is made using Rupay cards.

"100 gold coins can be redeemed as Rs 1 worth of digital gold," Tiwari said. PTI PRS BAL BAL