The number of loans disbursed through Paytm’s platform grew 296 per cent YoY to 2.9 million.
Paytm said loan distribution business, in partnership with top lenders,continues to see accelerated growth with disbursements through its platform seeing an annualised run rate of over Rs 25,000 crore in July.
“We continue to work with our partners to review the evolving macro environment and accordingly slight moderation may be expected in our growth. We believe there is ample opportunity for upsell in this business. We are being conservative on the quality of the book (especially given the possibility of macro headwinds),” it said.
Paytm said its offline payments leadership strengthens with a total number of devices deployed exceeding 4.1 million. Consumer engagement, it said, was at its highest on Paytm Super-App with average monthly transacting users (MTU) at 77.6 million for the, up 41 per cent YoY.
On Paytm Super App, the company said it continues to see heightened consumer engagement for the company’s comprehensive payment offerings. In offline payments, the adoption of devices in turn is driving higher payment volumes, subscription revenues as well as merchant loan distribution, it said.
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