- Loan distribution business scales to 3.4 million loan disbursals during the month of October 2022 (y-o-y growth of 161%), aggregating to loan disbursements of ₹3,056 Cr ($407 million, y-o-y growth of 387%)
- Leadership in offline payments strengthens with merchants paying subscription (for payment devices) exceeding 5.1 million
- Consumer engagement is at its highest on Paytm Super-App with average monthly transacting users (MTU) at 84.0 million for the month of October 2022, up 33% y-o-y
- 42% y-o-y increase in merchant payment volumes (GMV) for the month of October 2022 at ₹1.18 Lakh Cr ($14 billion)
We have achieved sustained growth in payments and lending business, with 3.4 million loans disbursed in October and our total devices deployed increasing to 5.1 million.
Read our Founder and CEO’s message to shareholders:
Our Operating Metrics for October 2022 are Here:
Loan distribution business continues to scale: Our loan distribution business (in partnership with top lenders) continues to witness accelerated growth with disbursements through our platform now at an annualised run rate of ₹37,000 crore in the month of October. The value of loans disbursed grew 387% y-o-y to ₹3,056 Cr ($407 million), while the number of loans disbursed grew 161% y-o-y to 3.4 million loans in the month of October 2022. We continue to seek growth and upsell opportunities as low penetration supports future growth potential, while we work with our partners to remain focused on the quality of the book.
New milestone in offline payments leadership: We continue to strengthen our leadership in offline payments, with merchants who pay us subscription (for payment devices), now exceeding 5.1 million across the country. With our subscription as a service model, the strong adoption of devices drives higher payment volumes, and subscription revenues, while increasing the funnel for our merchant loan distribution.
Robust growth in MTU: The Paytm Super App continues to see heightened consumer engagement for the company’s comprehensive payment offerings. We continue to drive user engagement, with the average MTU for the month of October 2022 at 84.0 million, registering a growth of 33% y-o-y.
Consistent growth in total merchant payments volume: The total merchant GMV processed through our platform for the month of October 2022 aggregated to ₹1.18 Lakh Cr ($14 billion), marking a y-o-y growth of 42%, partly due to the festive season. As we have mentioned before, over the past few quarters, our focus is only on volumes that generate profitability for us, either through net payments margin or direct upsell potential.