gmv: Paytm says October GMV rose 131% to $ 11.2 billion
The growth was aided by spending the holiday season, the company said in a filing with the ESB on Sunday night. GMV does not include peer-to-peer payments.
The number of its users doing monthly transactions (MTU) increased by more than 35% in October of this year to 63 million, from 47 million in the same month last year. GMV per MTU increased from $ 104 to $ 177.
“Our strong operational performance continued in October 2021, with an increasing number of consumers and merchants transacting on our ecosystem, an increasing frequency of transactions and a growing adoption of our various products and services,” said One97 Communications, parent company of, said on the record. . The company said it will report its September quarter results on November 27.
The Noida-based company made a disappointing debut on the stock exchanges on Thursday, when its shares fell 27% from the IPO issue price to close at Rs 1,564.15 on BSE. Investors and analysts have their own skepticism about Paytm’s ability to generate revenue from several of its verticals where competition is also intensifying.
According to Paytm, its lending and device business also saw continued adoption in October with a total base of 1.4 million devices last month among merchants, up from 1.3 million at the end of the September quarter. .
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âOctober 2021 saw a continuous increase in the adoption of our various financial services products. The lending business continued to show very strong growth due to the rapid scale-up of all of our lending products, including postpaid loans, consumer loans and merchant loans, âsaid said Paytm on file. Through its partner financial institutions, the company issued 1.3 million loans in October valued at $ 84 million. This is an increase of 472% in the number of loans and 418% in value, compared to October of last year.
Paytm added that he had taken a cautious approach to loan disbursements after the second wave of the Covid-19 pandemic, but disbursements “nearly doubled” with more than 2.8 million loans in the second quarter of l year 22 compared to the previous quarter.