Paytm leadership strengthens with 6.1 mn devices, MTU hits 89 million
Paytm, India’s leading payments and financial services company and the pioneer of mobile and QR payments, has announced its business operating performance for January 2023. The company continues to reign the market in offline payments with 6.1 million merchants now paying subscriptions for payment devices, while MTU stood at 89 million, registering a robust growth of 29% Y-o-Y. Paytm registered consistent growth in total merchant payments value. The total merchant GMV processed through the platform in January aggregated to ₹1.2 Lakh Cr ($15 billion), marking a Y-o-Y growth of 44%.
The company’s loan distribution business, in partnership with top lenders, continues to witness an accelerated growth with disbursements growing 327% Y-o-Y. Loans worth ₹3,928 Cr were disbursed in the month of January. The number of loans grew 103% y-o-y to 3.9 million for the month of January.
