Paytm saw its Q4 average monthly transacting (MTU) users rise by 27 percent year-on-year (YoY) to 90 million for the quarter ended March 2023, the fintech major informed exchanges on April 5.
Merchant Payment Volumes (GMV) for the quarter stood at Rs 3.62 lakh crore ($44 billion), with YoY growth of 40 percent.
Paytm noted it “continued growth in payments and loan distribution business” as it strengthened leadership in offline payments with 6.8 million deployed devices.
Further, Q4 saw Rs 4,468 crore ($544 million) worth of loan disbursement via the platform — a growth of 206 percent YoY, it added. “Our loan distribution business (in partnership with our lender partners) continues to gain scale and 4.1 million loans – growth of 63 percent YoY – were disbursed in March 2023,” as per the release.
The firm also noted that subscription devices such as Soundbox and POS machines continue to see increased acceptance by merchants, “driving additional payment monetisation for us”. It added that the number of merchants paying subscription for payment devices has reached 6.8 million as of March 2023, an increase of 1.0 million in the quarter.
As of 10.38 am, the stock traded at Rs 644.45, up 0.86 percent on the BSE.
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