Wednesday, July 3, 2024

Paytm Disburses Loans Worth Rs 9,618 Crore in April and May

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Fintech major Paytm has deployed around 75 lakh point-of-sale terminals, with around 4 lakh being deployed in May. In the last quarter, Paytm had around 68 lakh terminals deployed in the market.

In a press release, Paytm said it has seen growth on the consumer side, too, with around 9.2 crore average monthly transacting users, up 24% from last year.

Paytm

Overall the gross merchandise volume or the overall number of transactions being processed by the platform went up to Rs 2.65 lakh crore in April and May. At a monthly run rate of Rs 1.3 lakh crore approximately, the GMV is up from around Rs 1.2 lakh crore last quarter. Overall GMV stood at Rs 3.6 lakh crore in the fourth quarter of the last financial year.

The Noida-based company added that it had disbursed 85 lakh loans with Rs 9,618 crore disbursed in April and May.

On May 15, ET wrote about how Paytm is bundling collections as a service within its loan offerings to lending partners.

Paytm said it currently has seven lending partners and aims to onboard three to four more partners in FY24. With the system update being complete, its lending partners have resumed disbursing merchant loans, with some pent-up demand from April being met in May.

In its recently announced Q4 2023 results, Paytm reported growth in revenue from operations had risen 51% year-on-year to Rs 2,334 crore, led by a strong performance by the payments and loan distribution businesses.

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