Paytm logs new record in lending business, strengthens payments leadership

15 Feb 2022 , 09:20 AM

The value of the loans disbursed was Rs 921 crore, an increase of 334% YoY.

?The business saw increased adoption of our lending products, despite some temporary impact of Omicron over a short period of time on merchant lending disbursal volumes,? the company said in a statement.

Gross Merchandise Value (GMV) processed through the Paytm platform during January 2022 aggregated to approximately Rs 83,481 crore, up 105% YoY.

Average monthly transacting users (MTU) in January 2022 were 68.9 million, growth of 40% YoY. The company deployed over 2.3 million devices across the country as of the end of January 2022. It had deployed 0.7 million devices in the same period last year.

Paytm spokesperson said, ?Paytm is witnessing a broad growth across our platform as we continue to register increased adoption of our lending products, Paytm Postpaid (BNPL), merchant loans and personal loans. We are also continuously expanding our offline payments business, with more devices being deployed across the country.?

Paytm is one the largest payments platform in India based on the number of consumers, number of merchants, number of transactions and revenue ended March 2021. The company launched Paytm in 2009, as a mobile-first digital payments platform to enable cashless payments for customers giving them the power to make payments from their mobile phones. It started with bill payments and mobile top-ups as the first use cases, and Paytm Wallet as the first Paytm Payment Instrument.

One 97 Communications (Paytm) reported a consolidated net loss of Rs 778.50 crore in Q3 December 2021, higher than net loss of Rs 535.50 crore in Q3 December 2020. Consolidated net sales jumped 88.6% to Rs 1,456.10 crore in Q3 December 2021 over Rs 772 crore in Q3 December 2020.

The scrip advanced 0.75% to currently trade at Rs 870.50 on the BSE.

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