Paytm further strengthens its leadership in merchant payments. QR and mobile payments pioneer announces its operating business update with Indian exchanges and claims continued growth in consumer engagement on ‘Paytm Super App’ with average monthly transaction users growing at 25 per cent in April 2023 increased to 9.2 crores.
Paytm’s Leadership Offline payments grew by three lakh devices with deployment of 71 lakh devices in April 2023.
“We continue to strengthen our leadership in offline payments, with 71 lakh merchants now paying subscriptions to payment instruments, an increase of 3 lakh in the month of April 2023. With our subscription as a service model, strong adoption of the devices drives growth in subscription revenue. and higher payment volumes, growing the funnel of our merchant loan disbursements,” Paytm Said.
“Our leadership in payments monetization continues, as subscription services for payment devices such as soundboxes and POS machines continue to see increasing acceptance by merchants,” the company said in a filing to stock exchanges.
Paytm further said that the merchant payment volume (GMV) for the month of April 2023 was 1.27 lakh crore ($15.6 billion), a growth of 34 percent year-on-year.
The fintech company further said that with its subscription as a service (SaaS) model, strong adoption of the tools has led to growth in subscription revenue and higher payment volumes.
“Over the past few quarters, our focus has remained on payment volumes that generate profitability for us, either Net From payment margin or direct upsell potential,” Paytm said.
Claiming good growth in loan disbursement business, Paytm said, “Our loan disbursement business (in partnership with lender partners) has been growing steadily with loan disbursements increasing. 4,115 crore ($503 million, 148% YoY growth) and 41 lakh loans (56% YoY growth) disbursed through the Paytm platform in the month of April 2023.”
“We continue to see growth in the distribution of postpaid and personal loanit said.
Paytm Q4 Results
Paytm on Friday announced its Q4 FY23 results and reported 51 percent YoY growth in revenue from operations 2,334 crores. Paytm said a strong growth in revenue from operations could be possible due to growth in payments and loan disbursement business. The fintech firm reported sequential operating profit growth for the second straight quarter.
Paytm share price ended at Rs. 691.40 per share on the NSE, registering an intraday gain of nearly 3 per cent. The fintech stock has gained over 7 per cent in the last one month while in YTD time, Paytm share price has gained nearly 30 per cent.
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