Biznextindia : Digital payments and financial services company Paytm has reported impressive growth in the October-December (Q3) quarter. The total merchant GMV processed through the platform for the quarter aggregated to Rs 3.46 Lakh Cr ($42 billion), marking a y-o-y growth of 38%.
The Paytm Super App continues to see growing consumer engagement with the average MTU for the quarter ended December 2022 at 85 million, registering a growth of 32% y-o-y.
Loan disbursements through the platform grew by 330 percent to Rs 3,665. As a result, total disbursements for three months ended December 2022 was Rs 9,958 Cr, a growth of 357% y-o-y. The number of loans grew 117% y-o-y to 3.7 million for the month of December, and 137% y-o-y to 10.5 million cumulative loans for the three months ended December 2022.
“With a focus on creating additional payment monetization beyond MDR, our focus on subscription services continues to expand. We continue to strengthen our leadership in offline payments, with 5.8 million merchants now paying subscription for 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. Our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential” the company said.