● Continued expansion of consumer base with average monthly transacting users (MTU) at 89 million for the month of January 2023, up 29% y-o-y
● With a focus on creating additional payment monetization, our focus on subscription services continues to expand. Number of merchants paying subscription for payment devices has reached 6.1 million, an increase of 0.3 Mn in the month
● Merchant payment volumes (GMV) for the month of January 2023 at Rs 1.2 Lakh Cr ($15 billion), y-o-y growth of 44%
● Continued scale in our loan distribution business with disbursements of Rs 3,928 Cr ($480 million, y-o-y growth of 327%) and 3.9 million loans (y-o-y growth of 103%) disbursed in the month of January 2023
We have achieved sustained growth in our core payments and loan distribution business, with our device deployment increased to 6.1 million. Consumer engagement is at its highest on Paytm Super App with an average MTU at 89 million for the month of January 2023, up 29% y-o-y.
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The Paytm Super App continues to see growing consumer engagement with the average MTU for the month of January 2023 at 89 million, registering a growth of 29% y-o-y.
New milestone in offline payments leadership: We continue to strengthen our leadership in offline payments, with 6.1 million merchants now paying subscription for payment devices, an increase of 0.3 Mn in the month of January 2023. With our subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing the funnel for our merchant loan distribution.
Consistent growth in total merchant payments volume: The total merchant GMV processed through our platform for the month of January 2023 aggregated to Rs 1.2 Lakh Cr ($15 billion), marking a y-o-y growth of 44%. Our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential.
Loan distribution business continues to scale: Our loan distribution business (in partnership with top lenders) continues to witness an accelerated growth with disbursements through our platform growing 327% y-o-y to Rs 3,928 Cr ($480 million).
Our payments consumer and merchant base offers a large addressable market, thereby providing a long runway for growth. We continue to work with our partners to remain focused on the quality of the book.