In Hyderabad, the capital of the Indian state of Telangana, an ATM that allows you to buy gold from credit or debit plastic cards has started serving customers. As The Economic Times writes, this is the first such machine in India and the world which works in real-time.
The device was manufactured by the Indian private company "Goldsikka Pvt Ltd," which developed an innovative technology for selling gold. The ATM stores gold coins weighing up to 5 kg and 24 carats. It lets you buy them in eight sizes, from 0.5 to 100 grams. An essential feature of the ATM is that the price of gold on its screen is updated in real-time by changes in the quotations of the precious metal on the London Stock Exchange.
