“With increased partnerships with established NBFCs, we saw that the number of loans disbursed through our platform grew 449% year-on-year to 4.1 million loans in first two months of the quarter, while the value of loans disbursed was Rs 2,095 crore (year-on-year growth of 366%),” said OCL as a part of its filings.
The company also said it has doubled the total payment value of transactions processed through its merchants to Rs 1.65 lakh crore (or $22.2 billion) in the first two months of the current quarter, when compared to the same period last year.
“We continued to see an increase in user engagement on the Paytm platform, with average monthly transacting users in the first two months of the quarter at 69.5 million, growth of 41% year-on-year,” the company said as a part of its filings.
As of February 2022 end, Paytm has a total of 2.6 million devices deployed on ground for digital payment acceptance, it said. This includes Paytm’s point-of-sale devices along with its soundox offering.
This comes as OCL’s stock has continued its downward spiral, and come under intense pressure, after the banking regulator barred Paytm Payments Bank from onboarding new merchants, for the second time since its inception.
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Shares lost about a quarter over the past two days to end at Rs 589 apiece on Tuesday.
Last week, the Reserve Bank of India (RBI) barred SoftBank-backed
Paytm Payments Bank from adding new customers due to likely gaps in its technology systems, potentially denting its small-finance-bank aspirations.
“This action is based on certain material supervisory concerns observed in the bank,” RBI said as a part of a statement.
OCL founder Vijay Shekhar Sharma told ET on Monday that there is absolutely’ no reference to any or
data sharing with any unauthorized personnel national or international’in observations made by RBI, replying to a Bloomberg report that claimed that data sharing with Chinese entities was the primary reason behind the central bank action.
