Mumbai : The Gitanjali Group Saturday launched a first-of-its-kind Gold and Diamond ATM machine, a one-stop shop for buying medallions, coins and jewellery, an official said here.
This innovative ATM was inaugurated at Phoenix High Street in Lower Parel in south Mumbai by Bollywood star Raima Sen and CEO of Gitanjali Export Corporation Sanjeev Agarwal.
Designed like an ATM, the machine will dispense gold and silver bars, coins, pendants with religious motifs as well as a range of diamond studded jewellery.
High on convenience, this new retailing format will be ideally suited for last-minute purchases on auspicious occasions and for gifting, providing instant gratification to the purchaser.
The ATM will give the consumer a mix of up to 36 options in different sizes, price points and designs to choose from across these categories. This may include coins in varying grams or pendants that have religious motifs, heart shaped and diamond studded pendants for other gifting occasions.
The prices will range from Rs.1,000 to Rs.30,000. The exact combination available at each ATM will be flexible and vary across locations.
Customers at the ATM will choose their product from options displayed on a touch screen, and can then make payments using either a credit/debit card or by depositing cash. Delivery will be immediate.
In the coming months, Gitanjali plans to expand the network of these ATMs in places with high consumer footfalls such as premium malls, airports and temples to provide visitors with a range of last minute purchase choices for gifting and other needs.