February 03
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An ATM that allows you to buy gold coins with money from credit or debit plastic cards has begun serving customers in the Indian city of Hyderabad (Telengana state). According to The Economic Times on Tuesday, this is the first such machine that operates in real time, not only in India but also in the world.

The machine was produced by a private Indian company Goldsikka Pvt Ltd, which has developed an innovative technology to sell gold through the device. The ATM holds 5 kg of 24-carat gold coins and allows them to be purchased in eight options ranging from 0.5 g to 100 g. An important feature of the ATM is that the price of gold on its screen is updated in real time in accordance with changes in the quotations of the precious metal on the London Stock Exchange.

The ATM has a reliable anti-burglary system. It is equipped with a built-in video camera, sound alarm and has a communication line with the police.

According to representatives of Goldsikka, the device provides everyone with a convenient opportunity to invest in gold, avoiding financial losses, without the need to visit banks or jewelry stores.

On the first day of operation, the innovative ATM served 20 customers.

Goldsikka plans to install 3,000 such ATMs in India and enter the global market with its products.

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