Paytm Dispursed Loans Worth Rs 81 Crore/Day In 90 Days! Loan Dispersal Increase By 482% YoY
Latest reports from Paytm have stated that the value of loans disbursed in the September 2022 quarter increased 482% year on year to Rs 7,313 crore ($894 million)
On the other hand, the number of loans disbursed increased 224% year on year to 9.2 million.
Paytm’s Loan Disbursal Increased by 482% in September 2022 Quarter
One97 Communications, Paytm’s parent company, has stated that it the growth and upsell opportunities in the loan disbursal business are on a rise. The company has reportedly been working with its partners to maintain book quality.
As per the company, “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 Rs 34,000 crore in the month of September.”
As per the company, it is maintaining its leadership in offline payments by deploying 4.8 million devices at merchant stores across the country. The strong adoption of devices in the subscription-as-a-service model drives higher payment volumes and subscription revenues, while also increasing the funnel for Paytm’s merchant loan distribution.
In the reporting quarter, the company put to use 4.8 million offline payment devices (point of sale terminals and Soundbox) at merchant stores across the country, as compared to 1.3 million in Q2 FY22.
3.18 Lakh Crore Total GMV Recorded
The total merchant GMV (gross merchandise value) processed through Paytm for the quarter ended September 2022 was Rs 3.18 lakh crore ($39 billion), representing a 63 percent increase year on year.
As we had reported earlier, Paytm reported a 72 per cent year-on-year increase in its merchant payment volumes for the July and August period.
Its total merchant GMV — the value of total payments made to merchants – increased to Rs 2.10 lakh crore during the two months ended August 2022 from Rs 1.22 lakh crore during the year-ago period.
The company’s overall loan distribution business scaled to 6 million loans disbursed during July and August.
Per its Q1 FY23 results announced in August 2022 merchant count stood at 28.3 million, up by 6.5 million from 21.8 million in Q1 FY22.
Its merchant loans vertical had also reported 56 per cent growth quarter on quarter in terms of volume, translating into disbursements of Rs 827 crore for the first quarter.