Paytm annual loan payments increased 17% in September

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New Delhi: One97 Communications, a digital financial services company under the Paytm brand, reported on Monday that the annual run rate of loans disbursed in September increased by nearly 17% to around Rs 34,000 crore. In August, the company reported a running rate of loan payments which was approximately INR 29,000 crore per annum.

“Our loan distribution business (in partnership with major lenders) continues to experience exponential growth in payments through our platform now with an annual operating rate of Rs 34,000 crore in September,” the company said in a regulatory filing.

Paytm disbursed a total of 92 lakh loans during the mentioned month, up from 28.41 lakh during the same period last year, an increase of more than three times.

From Rs 1,257 crore in the third quarter of September 2021, the value of loans granted through Paytm increased nearly sixfold to Rs 7,313 crore. For the three months ending September 2022, the company’s average monthly transaction user (MTU) increased 39% year-on-year to Rs 7.97 crore.

As per the report, the Gross Merchant Gross Goods Value (GMV), which is the total amount of payments processed by merchants, increased by 63% to a total value of Rs 3.18 crore during the September 2022 quarter.



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