Paytm Disbursed Rs 164 Crore Of Loans Per Day In Last 90 Days: Total 1.28 Crore Loans Reported In June Quarter


Radhika Kajarekar

Radhika Kajarekar

Jul 10, 2023


Paytm has witnessed remarkable growth in its credit business during the June quarter, with a staggering 167 percent year-on-year increase. 

Paytm Disbursed Rs 164 Crore Of Loans Per Day In Last 90 Days: Total 1.28 Crore Loans Reported In June Quarter

The company disbursed loans amounting to Rs 14,845 crore and facilitated a total of 1.28 crore loans on its payments platform, marking a 51 percent rise. 

Paytm Records Massive Growth in Credit Business in June Quarter

The user base for Paytm’s monthly transactions has grown to 9.2 crore, reflecting a 23 percent year-on-year growth compared to the same period last year when it had 7.5 crore users. 

The number of payment devices deployed on the platform has almost doubled, reaching 79 lakhs, up from 38 lakh devices in the previous fiscal year.

These devices include point-of-sale devices and soundboxes used for scan-and-pay transactions. Paytm generates monthly rent from both types of devices. 

During the June quarter, the company added 11 lakh new devices. In terms of Unified Payments Interface (UPI) transactions, Paytm maintains its position as the third-largest player, with over 9 billion monthly transactions and close to Rs 15 crore in transaction value.

Paytm’s market share on the UPI platform currently stands at around 13 percent. Its main competitors are PhonePe and Google Pay. This quarter, PhonePe also entered the merchant lending business.

GMV Value in June Quarter Quarter Recorded at Rs. 4.05 Crore

While Paytm also operates a wallet business, the transaction value and volume for that segment are not publicly available. However, the gross merchandise value (GMV) for merchant payments in the June quarter amounted to Rs 4.05 lakh crore, indicating a year-on-year growth of 37 percent.

As per Paytm, “With our subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing the funnel for our merchant loan distribution.”

The company currently has seven financial partnerships for loan distribution and plans to onboard three to four more players during the fiscal year. Recently, Paytm announced a loan distribution partnership with Shriram Finance.

In the previous quarter, Paytm reported a 52 percent increase in revenue, reaching Rs 2,335 crore, and reduced its losses to Rs 168 crore from Rs 763 crore in the corresponding period of the previous year.

Despite experiencing a 60 percent growth in share price since the beginning of the year, Paytm’s stock still trades at a discount of over 60 percent compared to its IPO price.


Radhika Kajarekar
Radhika Kajarekar
  • 791 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Business
Dec. 8, 2022

Beat The Burden Of Medical Inflation With A Health Insurance

As disease rates rise and medical technology develops, treatment costs climb. It’s essential to understand that medical costs are not exclusively associated with hospitals. The cost of prescription drugs, diagnostic procedures, ambulance and operating room fees, consultations with doctors, and other costs are also constantly increasing. All of them could put a big strain on […]

Business
Dec. 8, 2022

3 Biggest Changes Of iOS 16.2 Update That Every iPhone User Should Know!

In its latest update Apple said that it is preparing for the iOS 16.2 update for iPhones across the world. Notably, like the previous release, there are a couple of changes coming for the iPhones.  iOS 16.2 Update Release Date So far, Apple has not announced a release date for iOS 16.2 update. Reportedly, the […]

Business
Dec. 8, 2022

300 Microsoft Employees Create Employee Union, First Time Ever: This Is How Microsoft Reacted

Around 300 workers at Microsoft Corp.’s ZeniMax Studios have commenced the process of forming a union which is said to be the first at the software giant in the US.  Here, Microsoft Corp.’s ZeniMax Studios known for popular video games including Skyrim and Fallout. Forming Union In Microsoft Corp Moreover, the quality assurance employees at […]

Business
Dec. 7, 2022

India Beats China In Air Travel Safety: Ranking Jumps From 102 To 48 In Global Aviation Safety

India’s air safety protocols and executions have improved drastically over the years, as validated by the findings of a specialized agency of the United Nations, the International Civil Aviation Organization or ICAO. The UN watchdog has upgraded India’s ranking in terms of aviation safety to the 48th position, jumping past the rankings of countries like […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online