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Riding on the strong festive season activity, Paytm's Gross Merchandise Value (GMV) saw a 123 per cent jump in October-November 2021 to ₹1.67 lakh crore from ₹72,800 crore in the same two months last fiscal.
This was revealed by One97 Communications, the parent company which owns and operates the brand Paytm, in an update on its operating performance for the third quarter (updated for November 2021) filed with the stock exchanges.
GMV refers to 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. However, it excludes any consumer-to-consumer payment services such as money transfers.
For Paytm, the two months of October-November 2021 saw robust performance from the aspects of GMV (up 123 per cent), number of loan disbursals (up 414 per cent at 2.7 million), value of loans disbursed (up 375 per cent year-on-year at ₹1,320 crore) and monthly transacting users (up 36 per cent year-on-year at 63.2 million). The momentum in GMV continues in the first two months of current quarter due to strong performance during the festive season, which continues post festive season, Paytm said.
Loans disbursed
Paytm, which got listed on the bourses last month, said on Monday that the number of loans disbursed through its platform increased by 414 per cent y-o-y to 2.7 million loans in the first two months (October-November) of the current quarter.
The value of loans disbursed through the Paytm platform increased by 375 per cent y-o-y to ₹1,320 crore ($178 million) in the first two months of the quarter, the company said. Partly aided by the consumption boost in the festive season, there has been growth across each of the lending products, i.e. Paytm Postpaid, Personal Loans and Merchant Loans, it said.
It may be recalled that for the quarter-ending September 30, 2021, Paytm had disbursed 2.84 million loans, up 714 per cent from 0.35 million loans in same quarter last fiscal. The value of loans disbursed in September 2021 quarter was ₹1,260 crore, up 499 per cent over ₹210 crore disbursed in same quarter last fiscal.
On November 26, Paytm had launched a new credit card in partnership with HDFC Bank, further to the announcement of their partnership in September 2021. The total number of devices deployed across its merchant base rose from 0.9 million as of June 30 to 1.3 million as of November 30.
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