Paytm merchant payments volume rise by 44% YoY in Jan

Paytm's merchants payment volume(GMV) rose by 44 per cent YoY to ₹1.2 lakh crore in January 2023, the company said on Wednesday. Its average monthly transacting users (MTU) grew by 29% YoY to 89 million last month.

Notably, the company is witnessing an upward trajectory of its growth in loans and monthly users in past few months.

Last month, the company disbursed a total of 3.9 million loans through its platform, which is 103% higher than the amount of loans the company had disbursed in January 2022.

Reflecting the growth of the number of disbursed loans, Paytm witnessed a whopping 327% jump in the amount of loans disbursed through its platform in January 2023.

The value of loans disbursed through Paytm reached to ₹3,938 crore last month from ₹928 crore in January 2022.

Reflecting the growth of the number of disbursed loans, Paytm witnessed a whopping 327% jump in the amount of loans disbursed through its platform in January 2023.

The value of loans disbursed through Paytm reached to ₹3,938 crore last month from ₹928 crore in January 2022.

Notably, the shares of One 97 Communications Ltd(Paytm) continued to rally for last three days.

The fintech firm's share jumped more than 6 per cent to ₹624 apiece on the BSE in Wednesday's opening sales, after the announcement of its operations performance for the month of January.

The company witnessed an impressive increment in its consumer engagement. The company's model of payment devises helped it to continue dominating the offline payments.

By the end of January, the company had earned a total of 6.1 million merchant subscriptions.

The number of subscribed payment devices grew by 0.3 million in a year.