The most recent data show that for the quarter that ended in September 2022, there were 9.2 million loans given, with a value of $7,313 crore ($894 million), an increase of 482% year over year.
Digital Desk: According to a press statement from the company, Paytm's loan distribution business has witnessed rapid development, with disbursements through the platform currently running at an annualised run rate of $34,000 billion in September of this year.
The most recent data show that for the quarter that ended in September 2022, there were 9.2 million loans given, with a value of $7,313 crore ($894 million), an increase of 482% year over year.
Paytm or One 97 Communications stated, "We continue to see growth and upsell potential in this industry, while we work with our partners to remain focused on the quality of the book."
With the deployment of 4.8 million devices at merchant businesses around the nation, the company also continued to enhance its leadership in offline payments, according to the statement.
In a statement released by Paytm, the company said: "With our subscription as a service model, the strong device adoption promotes larger payment volumes, subscription revenues, and increases the funnel for our merchant loan distribution."
In addition to its loan distribution business, Paytm Super App continues to experience increased consumer interest in its wide range of payment options.
The average MTU (Monthly Transacting Users) for the quarter ending in September 2022 was 79.7 million, up 39% year over year. "We continue to drive user engagement, "it stated.
"For the quarter ending September 2022, the aggregate total merchant GMV (Gross Merchandise Value) processed through our platform was 3.18 Lakh Cr ($39 billion), showing a y-o-y growth of 63%," it added.
As of August 22, Paytm's annualised loan disbursement run-rate was Rs 290 billion, and as of that date, it had a penetration rate of 4% for postpaid loans, 0.5% for personal loans, and 4% for device merchants for merchant loans (as at Jun-22).
Additionally, the company pointed out that its portfolio credit losses are currently below the levels that finance partners have underwritten, which may increase the potential for incentive income on its syndicated loan book.
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