One 97 Communications (Paytm) has continued growth in payments and loan distribution business. Its leadership in offline payments strengthens with 75 lakh devices deployed, while disbursements of Rs 5,502 crore ($666 million) in the month of May 2023 through Paytm platform.
The company continued expansion of consumer base with average monthly transacting users (MTU) at 9.2 crore for quarter to date (average for April & May 2023), up 24% YoY. Merchant Payment Volumes (GMV) for quarter to date (for April & May 2023) stood at Rs 2.65 lakh crore ($32.1 billion), YoY growth of 35%.
The company also continued scale in its loan distribution business with disbursements of Rs 9,618 crore ($1.2 billion, YoY growth of 169%) and 85 lakh loans (YoY growth of 54%) distributed in the quarter to date (for April & May 2023).
Paytm is India's leading digital ecosystem for consumers as well as merchants.
