Biznextindia : Paytm has reported robust growth in its loan disbursals in the July-September quarter of FY22-23. The number of loans disbursed grew 224% (YoY) to 9.2 million loans, while in value terms, it grew by 482% (YoY) to 7313 crore.
“Loan distribution business continues to scale: Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now at an annualised run rate of ₹34,000 crore in the month of September. The number of loans disbursed grew 224% y-o-y to 9.2 million loans in the quarter ended September 2022, while the value of loans disbursed grew 482% y-o-y to Rs 7,313 Cr ($894 million). We continue to see growth and upsell opportunities in this business, while we work with our partners to remain focused on the quality of the book” said one97 communications, the holding company of the payment gateway Paytm.
The company has said that it has continued to strengthen our leadership in offline payments, with deployment of 4.8 million devices at merchant stores across the country. 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.
The Paytm Super App continues to see heightened consumer engagement for the company’s comprehensive payment offerings. We continue to drive user engagement, with the average MTU for the quarter ended September 2022 at 79.7 million, registering a growth of 39% Y-o-Y.
The total merchant GMV processed through our platform for the quarter ended September 2022 aggregated to Rs 3.18 Lakh Cr ($39 billion), marking a y-o-y growth of 63%.