Paytm: Paytm on Tuesday shared an update on its operation performance along with data for the first two months of the fourth quarter of FY 2022. The fintech company said it has achieved the highest monthly loan disbursal and continues to see sustainable growth in its payments business.
Paytm said in an exchange filing, “With increasing partnerships with established NBFC companies, we have observed a 449 per cent year-on-year jump in loan disbursement through our platform. We disbursed 41 lakh loans during the first two months of the quarter, of which about 22 lakh loans were disbursed in February, 2021 itself. While the loan value grew by 366 per cent year-on-year to Rs 2,095 crore.
105% growth in GMV
The total GMV processed through its platform in the first two months of the quarter stood at Rs 1,65,333 crore with a growth of 105 per cent. GMV is merchant payment processed through all modes (paytm wallet, paytm payment bank account, netbanking of other banks, credit and debit cards, UPI etc.).
The number of monthly users increased by 41 percent
The Vijay Shekhar Sharma-led company reported a year-on-year growth of 41 per cent with the number of Monthly Transacting Users (MTU) at 69.5 million, indicating an increase in user engagement. Also, the company said that its offline payment business has been strengthened by the adoption of Paytm payment by merchants.
Restrictions do not affect existing customers
The company said that RBI’s restriction on Paytm Payments Bank does not affect existing customers, who can continue with all banking and payment services without any hindrance.
It said, “All existing users of Paytm UPI, Paytm Wallet, Paytm FASTag and bank accounts can continue to make payments through these modes including debit cards and netbanking. New users can also signup on Paytm app and create UPI handle, link it with their bank accounts or transact on Paytm app by using third party payment option. Users cannot signup for a new PPBL Wallet or PPBL Savings or Current Account until further notice.”
,