New Delhi: Digital payments and financial services firm Paytm Its Gross Merchant Value on Monday registered a growth of more than two-fold to Rs 1,66,600 crore in the first two months of the third quarter of the current fiscal on sharp rise in credit disbursements.
One97 Communications Ltd., the parent company that owns and operates the brand Paytm, reported a GMV (gross trading value) of Rs 72,800 crore in the same period a year ago.
Paytm refers to GMV as the value of total payments made to merchants in a period, through transactions on its App, through Paytm payment instruments or through its payment solutions. This excludes any consumer-to-consumer payment services such as money transfers.
“The growth momentum in GMV continues in the first two months of the quarter due to strong performance during the festive season,” the company said in a regulatory filing.
The number of loans disbursed from the Paytm platform increased four-fold to 27 lakh during the reported period, from 5.30 lakh a year ago.
The value of disbursed loans rose 375 per cent year-on-year to Rs 13,200 crore (USD 178 million) from Rs 280 crore in the first two months of the quarter.
“We have looked at every lending product, viz. Paytm Postpaid, personal loan and merchant loan. On November 26, 2021, we launched a new credit card in partnership with HDFC Bank, ahead of our partnership announcement in September 2021,” the company said.
Paytm reported a 36 per cent growth in Monthly Transaction Users (MTU) to 6.32 crore during the reported period, from over 4.66 crore average MTU in the first two months of the same quarter a year ago .
One97 Communications Ltd., the parent company that owns and operates the brand Paytm, reported a GMV (gross trading value) of Rs 72,800 crore in the same period a year ago.
Paytm refers to GMV as the value of total payments made to merchants in a period, through transactions on its App, through Paytm payment instruments or through its payment solutions. This excludes any consumer-to-consumer payment services such as money transfers.
“The growth momentum in GMV continues in the first two months of the quarter due to strong performance during the festive season,” the company said in a regulatory filing.
The number of loans disbursed from the Paytm platform increased four-fold to 27 lakh during the reported period, from 5.30 lakh a year ago.
The value of disbursed loans rose 375 per cent year-on-year to Rs 13,200 crore (USD 178 million) from Rs 280 crore in the first two months of the quarter.
“We have looked at every lending product, viz. Paytm Postpaid, personal loan and merchant loan. On November 26, 2021, we launched a new credit card in partnership with HDFC Bank, ahead of our partnership announcement in September 2021,” the company said.
Paytm reported a 36 per cent growth in Monthly Transaction Users (MTU) to 6.32 crore during the reported period, from over 4.66 crore average MTU in the first two months of the same quarter a year ago .
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