One97 Communications–the parent of Paytm–said loan disbursals on the platform rose 253% year-on-year (y-o-y) to Rs 12,554 crore in January-March, according to a press release. Total loans disbursed rose 82% y-o-y to 11.9 million.
In March alone, total transactions on Paytm rose 63% y-o-y to 4.1 million. In terms of value, loans disbursed rose 206% y-o-y to Rs 4,468 crore.
“Our payments consumer and merchant base offers a large addressable market, thereby providing a long runway for growth. We continue to work with our partners to remain focused on the quality of the book,” One97 Communications said in the press release on Wednesday.
Gross merchandise value rose 40% y-o-y to Rs 3.6 trillion.
Average monthly transacting users rose 27% y-o-y to 90 million in January-March, reflecting continued expansion of our customer base.
Merchant payment volumes rose 40% y-o-y to Rs 3.6 trillion in the March quarter.
Average monthly transacting users rose 27% y-o-y to 90 million in the March quarter. Total subscription merchants rose to 6.8 million as on March 31 from 2.9 million a year ago.
“With our subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing the funnel for our merchant loan distribution,” the release said.
