- GMV for the quarter (for three months ended March 2023) grows 40% YoY to ₹3.62 Lakh Cr ($44 billion)
- Loan distribution, in partnership with lending partners, witnesses accelerated growth with disbursements of ₹4,468 Cr ($544 million, increases 206% YoY) in March 2023
NE BUSINESS BUREAU
AHMEDABAD, APR 5
Paytm, India’s leading payments and financial services company and the pioneer of mobile and QR payments, has announced, on Wednesday, its business operating performance for Q4FY23. The company has achieved a new milestone in offline payments with 6.8 million devices deployed, while consumer engagement is the highest on the Paytm Super App at 90 million average Monthly Transacting Users, registering a growth of 27% Y-o-Y .
Driving additional payment monetisation, Paytm’s subscription devices, Soundbox and PoS machines continue to see an increased acceptance by merchants. With 6.8 million merchants now paying subscriptions for Paytm’s payment devices, an increase of 1.0 million in the quarter ended March 2023, it has further strengthened its leadership in offline payments. The company has witnessed sustained growth in merchant payments volume. The total merchant gross merchandise value (GMV) processed through its platform for the quarter (for three months ended March) increased 40% YoY to ₹3.62 Lakh Cr ($44 billion).
Paytm’s loan distribution business, in partnership with top financial institutions, continues to gain scale with total disbursements through its platform for the quarter growing 253% y-o-y to ₹12,554 Cr ($1,528 million). The total number of loans disbursed surged 82% YoY to 11.9 million in the quarter with 4.1 million loans (63% growth YoY) disbursed in the month of March 2023 through the Paytm platform.
