Financial services firm Paytm's parent company One97 Communications on Monday said it saw 401 per cent year-on-year (YoY) rise in loan disbursals through its platform during October-December quarter at 44 lakh. It disbursed loans amounting to Rs 2,180 crore, registering a 365 per cent YoY growth.
"We have seen stellar growth in each of the lending products, i.e. Paytm Postpaid (Buy-Now-Pay-Later), Personal Loans and Merchant Loans," the company said in its quarterly business update filed with exchanges.
The gross merchandise volume (GMV) in the quarter grew 123 per cent to Rs 2,50,100 crore. It said the year-to-date GMV is already higher than all of FY21, led by significant non-UPI GMV growth.
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The company defines GMV as the value of total payments made to merchants through transactions on its app, through Paytm payment instruments or through its payment solutions over a period. It excludes any consumer-to-consumer payment services such as money transfers.
Paytm said its monthly transacting users (MTU) grew 37 per cent to 6.44 crore during December 2021 quarter. Besides, it said the company now has over 20 lakh devices deployed across the country.
"The total number of devices deployed across our merchant base has increased from 0.9 million as on June 30, 2021 to approximately 1.3 million as on September 30, 2021 to approximately 2.0 million as on December 31, 2021," the exchange filing said.
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