Paytm has also reached its highest number of monthly transacting users on super app at 76 million in June
File Image: An advertisement of Paytm, a digital wallet company, is pictured at a road side stall in Kolkata
Paytm has said that the platform’s lending and disbursements business has achieved a milestone Rs 24,000 crore annualised run rate in June. The company also reached its highest number of monthly transacting users (MTU) — 76 million on its super app — during the month.
The company said consumer engagement on app is at its highest with a monthly transacting users (MTU) at 74.8 million for the quarter ended June. This is a 49 percent jump year-on-year (YoY). “The Paytm Super App continues to see heightened consumer engagement for the company’s comprehensive payment offerings. For the month of June alone, the MTU stood at 75.9 million,” it added.
Further, the lending business has also scaled to a total of 8.5 million loan disbursals during the quarter ended June, showing 492 percent growth YoY. Aggregate total loan value of the company is now Rs 5,554 crore for the June quarter, a growth of 779 percent YoY.
“Rapid growth of our lending products brings us an attractive profit pool. We are also seeing increases in average ticket size due to the scale-up of the personal loans business in particular,” Paytm said in the release.
In terms of merchant payment volumes for June quarter, Paytm registered a 101 percent increase YoY at Rs 2.96 lakh crore.
On offline payments, the company said they strengthened leadership position with approximately 3.8 million devices employed in total. “The strong adoption of devices also has a correlation with the rise in merchants eligible for loans from our platform,” the company noted.