An ATM (ATM) for the sale of gold coins for money from bank cards began to work and serve customers in the Indian city of Hyderabad, Telangan.
The Economic Times reported today, Tuesday, that the machine is the first of its kind in the world, not just in India.
The device is manufactured by the Indian company Goldsikka Pvt Ltd, which has developed an innovative technology for selling gold through this vending machine. The device contains 5 kilograms of 24 carat gold coins.
The device allows you to buy gold coins in 8 variants from 0.5 grams to 100 grams, and one of the important features of the device is that the price of gold is updated based on changes in prices for the precious metal on the London Stock Exchange.
The ATM has a high protection system against hacker operations and is equipped with a built-in video camera and sound alarm, and the machine also has a communication line with the police.
On the first day of the device’s operation, it provided its services to 20 customers, and Goldsikka plans to install 3,000 of these devices in India and expand into the global market.