Paytm leadership strengthens as fintech firm’s loan distribution jumps 150 pc during Oct-Nov- The New Indian Express

By 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 during the two months ended November 2022, a year-on-year growth of 150 per cent.

Total aggregate loan disbursements during these two months under review were 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 runway 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 adoption by consumers and merchants. Our operating metrics for Oct and Nov 22 are here –
Blog: https://t.co/p9fv70PaKV

BSE link: https://t.co/cyOzC5KrX9 pic.twitter.com/3x7Nfwx91Z

— Paytm (@Paytm) December 12, 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 drives higher payment volumes and subscription revenues, while increasing the funnel for our merchant loan distribution,” it said.

Moreover, Paytm’s monthly transacting users (MTU) too are on a rise. The average MTU for the two months was 84 million, registering an annual growth of 33 per cent.

ALSO READ | Paytm can’t use IPO proceeds for buyback; company’s strong liquidity to be used

This consumer and merchant ecosystem has led the company to amass merchant payment volumes (Gross Merchandise Value) for the two months ended November 2022 at Rs 2.28 lakh crore with an annual growth of 37 per cent.

The filing further went on to say that the company’s focus over the past few quarters continued to be on payment volumes that generate profitability — either through net payments margin or from direct upsell potential.

ALSO READ | RBI pauses onboarding of online merchants by Paytm Services; firm says no material 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 stock exchanges. The news of a buyback has instilled investor confidence as it reassured that the Paytm management is sure of 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 during the two months ended November 2022, a year-on-year growth of 150 per cent. Total aggregate loan disbursements during these two months under review were 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 runway 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 adoption by consumers and merchants. Our operating metrics for Oct and Nov 22 are here – Blog: https://t.co/p9fv70PaKV BSE link: https://t.co/cyOzC5KrX9 pic.twitter.com/3x7Nfwx91Z — Paytm (@Paytm) December 12, 2022 Further, 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 drives higher payment volumes and subscription revenues, while increasing the funnel for our merchant loan distribution,” it said. Moreover, Paytm’s monthly transacting users (MTU) too are on a rise. The average MTU for the two months was 84 million, registering an annual growth of 33 per cent. ALSO READ | Paytm can’t use IPO proceeds for buyback; company’s strong liquidity to be used This consumer and merchant ecosystem has led the company to amass merchant payment volumes (Gross Merchandise Value) for the two months ended November 2022 at Rs 2.28 lakh crore with an annual growth of 37 per cent. The filing further went on to say that the company’s focus over the past few quarters continued to be on payment volumes that generate profitability — either through net payments margin or from direct upsell potential. ALSO READ | RBI pauses onboarding of online merchants by Paytm Services; firm says no material 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 stock exchanges. The news of a buyback has instilled investor confidence as it reassured that the Paytm management is sure of its growth and profitability plans.<br />