Status check on Distributor System

Post calling the ​Confirm API (Buy/Sell/Delivery/Gifting), SafeGold will call an API on Distributor’s system by passing the following parameters:

  • SafeGold Transaction ID
  • Current SafeGold Balance
When SafeGold passes the above parameters to the Distributor, the Distributor will confirm whether the state of the particular transaction is ​ Successful ​ and also check whether the customer’s gold balance maintained on the Distributor’s system is the same as the Gold Balance sent by SafeGold.

In case of failure of any one of the two validations, SafeGold will block the particular customer temporarily by not allowing the customers to do any more transactions unless the issue is resolved.

Exchange for Jewellery Flow

SafeGold Customer walks into a Retail Jeweller store to buy jewelry.

The following process could be used for payment using SafeGold:

  1. Customers will pay at Retail Jeweller stores based on this Live Rate depending on the location of the Store.
  2. Customers will provide their mobile number to the Retail Jeweller store cashier. The Cashier will enter the mobile number and the grams of SafeGold the Customer wishes to transfer to a Retail Jeweller in their System.
  3. If the customer has a sufficient gold gram balance, the SafeGold customer will receive a SMS with the OTP and the details of the transaction. The transaction details will include the gms of gold being transferred, the rate being ascribed to the gold, and the implied rupee value.
  4. SMS will also state that by providing the OTP to the Retail Jeweller cashier, the customer is asking SafeGold to transfer such an amount of gold to Retail Jeweller jewelers.
  5. Customers will provide the received OTP to the Cashier, which will be validated through an API with the SafeGold system.
  6. On entering the OTP by the Retail Jeweller cashier, the transaction will be successfully completed and the corresponding grams of 995 gold will be transferred to Retail Jeweller and the corresponding grams will be deducted from the SafeGold customer’s balance.
  7. Post the transaction, Safegold will send an SMS/ email confirming the transaction to the customer.
  8. Retail Jeweller will provide an Invoice to the Customer for the Jewellery purchased.
  9. The Customer has the option of paying the whole amount or partial amount for the jewelry using their Safegold Balance. If the Customer pays a partial amount for the jewelry, the Customer will pay the rest of the amount at the cash counter of the Retail Jeweller store through the standard process.