Paytm strengthens leadership in offline payments with 5.8 mn devices, disburses 3.7 mn loans worth Rs 3,665 cr in Dec

Paytm, India’s leading payments and financial services company and the pioneer of mobile and QR payments, has announced its business operating performance for Q3FY23. The company continues to reign the market in offline payments with 5.8 million merchants now paying subscriptions for payment devices, while MTU stood at 85 million, registering a robust growth of 32% Y-o-Y. Paytm registered consistent growth in total merchant payments value. The total merchant GMV processed through the platform for Q3FY23 aggregated to ₹3.46 Lakh Cr ($42 billion), marking a Y-o-Y growth of 38%.

The company’s loan distribution business, in partnership with top lenders, continues to witness an accelerated growth with disbursements growing 330% Y-oY. Loans worth ₹3,665 Cr were disbursed in the month of December. The number of loans grew 117% y-o-y to 3.7 million for the month of December, and 137% Y-o-Y to 10.5 million cumulative loans for the three months ended December 2022. As a result, total disbursements for three months ended December 2022 was ₹9,958 Cr, a growth of 357% Y-o-Y.