First Gold ATM in India

India’s first Gold dispensing ATM has been set up in Telengana’s capital Hyderabad on 3rd December 2022. It is the first real-time Gold ATM in the world. A Gold firm Goldsikka Limited introduced this innovative digital marketplace for a hassle-free buying of the precious metal. A startup firm OpenTable Technologies Pvt.Ltd. offered software solutions for banking and financial requirements.

One of the striking features of the Gold ATM is that anybody can buy gold like buying any other commodities. Customers can purchase gold using their credit card or debit card without going to physical jewelery store. Gold denominations ranging from 0.5 grams to 100 grams. Customers won’t be able to buy gold less than 0.5 grams and more than 100 grams. ATM displays updated gold rates to inform clients of changes in the market.

Goldsikka company, a major buying and selling firm of gold, said that Gold ATM is accessible to a highly varied audience, and anybody can withdraw gold from Gold ATM. Company said that it is a contribution to the mission of “Bangaru Telangana”.

World’s first Gold ATM

World’s first Gold dispensing ATM was launched in Frankfurt railway station for a single day trial by TG Gold-Super-Markt in 2009. But world’s first permanent Gold ATM was installed in Emirates Palace Hotel, Abu Dhabi in United Arab Emirates in 2010. The ATM was able to dispense 1,5 and 10 gram sizes of 24-carat gold bars. The ATM offered different gift gold coins with symbols of different things. All purchases more than 1,000 € required to scan personal identification of the buyer.

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