October-November witness jump of 150% in Paytm’s Loan volume
- ByStartupStory | December 12, 2022
The largest digital payments provider in India, Paytm, is operated by One 97 Communications Ltd, which saw a 150% increase in loan volumes from a year ago in the months of October and November. In a filing to the stock exchange on December 12, the fintech giant stated that “our loan disbursement business (in partnership with top lenders) is witnessing accelerated growth with disbursements through our platform now at an annualised rate of Rs 39,000 crore in November.” The largest digital payments provider in India, Paytm, is operated by One 97 Communications Ltd, which saw a 150% increase in loan volumes from a year ago in the months of October and November. “Our loan disbursement business (in partnership with top lenders) is witnessing accelerated growth, with disbursements through our platform now at an annualised rate of,” the fintech major stated in a stock exchange filing on December 12.
“For the two months ending in November 2022, the total amount of loans disbursed increased by 150% year over year (YoY) to 6.8 million, while the value of loans disbursed increased by 374% YoY to Rs 6,292 crore ($774 million). We anticipate a sizable growth runway given the low current penetration as we continue to work with our partners to prioritise book quality.
Paytm merchant payment mobile users increased by 3.9 million in November 2022 year over year. More than 5.5 million businesses are now using the payment system, according to the company. Widespread device adoption “driven higher payment volumes and subscription revenue while increasing our commercial loan distribution pipeline,” the company reported. The company also observed significant increases in monthly transacting users (MTUs). With an average MTU of 84 million for the two months ending in November 2022, up 33% year over year, the Paytm Super App has seen a spike in user engagement. The benchmark Sensex ended the day 389.01 points or 0.62% higher at 62,181.67, while Paytm shares closed at Rs 545.00 per share on the BSE on Friday, up 7.2%.
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