Paytm management bolsters as fintech firm’s loan distribution jumps 150 pct. during October-November- The New Indian Express

Of ANI

NEW DELHI: Paytm’s loan distribution business through its platform continued to witness accelerated growth.

The fintech firm’s loan distribution business scaled to 6.8 million loans disbursed in the two months ending November 2022, a year-over-year growth of 150 percent.

Total aggregate loan disbursements during the two months under review stood at Rs 6,292 crore with an annual growth of 374 per cent, according to a stock exchange filing shared by the company on Monday.

“We see a significant growth trajectory given low current penetration, while we continue to work with our partners to remain focused on the quality of the book,” it said in the stock exchange filing.

Scaling of our lending and payments business continues, with strong consumer and merchant usage. Our operating figures for October and 22 November are here –
Blog:

BSE link: pic.twitter.com/3x7Nfwx91Z

— Paytm (@Paytm) 12 December 2022

Furthermore, in the offline payments segment, it strengthened its leadership with more than 5.5 million merchants now paying subscriptions for the payment devices.

“With our subscription as a service model, the strong adoption of devices is driving higher payment volume and subscription revenue, while increasing the funnel for trade loan distribution,” it said.

Also, Paytm’s Monthly Transaction Users (MTU) is also on the rise. The average MTU for the two months was 84 million, registering an annual growth of 33 per cent.

READ ALSO | Paytm cannot use IPO proceeds for buyback; the company’s strong liquidity must be used

This consumer-merchant ecosystem has seen the company collect payment volumes (gross merchandise value) for the two months ending November 2022 at Rs 2.28 lakh crore with an annual growth of 37 percent.

The filing went on to say that the company’s focus in recent quarters continued to be on payment volumes that generate profitability – either through net payment margin or from direct upsell potential.

READ ALSO | RBI stops onboarding of online sellers of Paytm Services; the company says no significant impact on biz

Separately, Paytm has been in the news for its proposed buyback. The company’s board will meet on Tuesday to discuss the plan. After the formal approval, Paytm is expected to share more details with the exchanges. The news of a buyback has instilled investor confidence as it assured that Paytm management is confident about its growth and profitability plans.

</p> <p>NEW DELHI: Paytm’s loan distribution business through its platform continued to witness accelerated growth. The fintech firm’s loan distribution business scaled to 6.8 million loans disbursed in the two months ending November 2022, a year-over-year growth of 150 percent. Total aggregate loan disbursements during the two months under review stood at Rs 6,292 crore with an annual growth of 374 per cent, according to a stock exchange filing shared by the company on Monday. “We see a significant growth trajectory given low current penetration, while we continue to work with our partners to remain focused on the quality of the book,” it said in the stock exchange filing. Scaling of our lending and payments business continues, with strong consumer and merchant usage. Our operating figures for October and November 22 are here – Blog: BSE Link: pic.twitter.com/3x7Nfwx91Z — Paytm (@Paytm) December 12, 2022 Furthermore, in the offline payments segment, it strengthened its lead by more than 5 .5 million sellers who now pay subscriptions for the payment units. “With our subscription as a service model, the strong adoption of devices is driving higher payment volume and subscription revenue, while increasing the funnel for trade loan distribution,” it said. Also, Paytm’s Monthly Transaction Users (MTU) is also on the rise. The average MTU for the two months was 84 million, registering an annual growth of 33 per cent. READ ALSO | Paytm cannot use IPO proceeds for buyback; the company’s strong liquidity to be used This ecosystem of consumers and merchants has led the company to aggregate merchant payment volume (Gross Merchandise Value) for the two months ending November 2022 at Rs 2.28 lakh crore with an annual growth of 37 percent . The filing went on to say that the company’s focus in recent quarters continued to be on payment volumes that generate profitability – either through net payment margin or from direct upsell potential. READ ALSO | RBI stops onboarding of online sellers of Paytm Services; the company says no significant impact on biz. Separately, Paytm has been in the news for its proposed buyback. The company’s board will meet on Tuesday to discuss the plan. After the formal approval, Paytm is expected to share more details with the exchanges. The news of a buyback has instilled investor confidence as it assured that Paytm management is confident about its growth and profitability plans.<br />