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September 18, 2015updated 04 Apr 2017 4:01pm

GoldMoney launches new payments tools for BitGold platform

GoldMoney, a gold-based financial service and technology group, has launched automated savings and payments tools for the BitGold platform, a self-directed savings platform and payments network.

By Verdict Staff

GoldMoney, a gold-based financial service and technology group, has launched automated savings and payments tools for the BitGold platform, a self-directed savings platform and payments network.

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The company claims that the recurring payment tools are designed to increase the functionality and engagement for both savings and payments segments.

The recurring savings tool, BitGold’s "Gold that Grows" program, is an automated deposit feature that allows clients to pre-define an accumulation plan set on a daily, weekly, or monthly schedule.

According to the company, clients can choose from multiple funding sources, including ACH bank transfers and credit cards, and create a self-directed, auto-accumulating gold savings plan through the platform.

Also, the payments tool will allow users to plan and schedule recurring gold payments anywhere in the world.

BitGold CEO Darrell MacMullin said: "Recurring saving and payment tools have the potential of become some of the most important features of the BitGold platform. Mathematically speaking, gold has retained value in savings better than any global currency since the central banks ceased fixed conversion to gold in the 70’s, even after including the standard deposit interest that banks pay customers for taking solvency risk.

"Before BitGold however, gold was often viewed as an investment where people timed their purchase given the friction, large minimum denominations, and other time and fees involved in accumulating bullion.

"Leveraging the BitGold platform’s e-payment integrations and settlement technology, savers can now build positions in gold that align with the unequivocal outperformance of gold over time, while tailoring their savings plan to the size and frequency of their needs with maximum automation and minimum cost and friction."

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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