PhonePe launches daily savings in digital gold in partnership with Jar

PhonePe has partnered with Jar to introduce a new 'Daily Savings' feature on its platform for the purchase of digital gold. This feature allows users to save 24K digital gold through daily incremental contributions. With 'Daily Savings,' PhonePe aims to help individuals develop consistent savings habits by allowing them to save amounts starting from Rs 10 up to a maximum of Rs 5,000 each day in digital gold.

Jar's integrated 'Gold Tech' solution simplifies digital gold investments in under 45 seconds. Initially exclusive to its users, it is now available to partner businesses, enabling their users to save in digital gold. Niharika Saigal, Head of In-App Categories and Consumer Payments at PhonePe, stated, "We have seen a significant surge in the 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 24K digital gold. By starting small and saving consistently, individuals can progressively work towards achieving their financial goals."

The integration with PhonePe enables easy fund transfers and payments, while automated daily contributions facilitate consistent savings. Users can pause or cancel their 'Daily Savings' anytime and redeem gold for cash whenever they want.