![]() ![]() Tags: loans Indian Economy Paytm One97 Communications Fintech Paytm Performance Follow Business News on abp LIVE for more latest stories and trending topics. Broader Indices Shine PSU Bank, Realty Rise Published at : 10:19 AM (IST) Paytm informed via it’s release that it will discontinue monthly disclosures of operating performance after September 2023, as stated in it’s earnings presentation for the last quarter of the previous fiscal year, and will continue to provide disclosures on a quarterly basis.Īlso Read : Stock Market: Sensex Gains 150 Points, Nifty At 19,575. We currently have 8 lending partners (including for credit card distribution) and we aim to onboard 3-4 partners in FY 2024.” Paytm Payments Bank offers secure, transparent and risk-free banking at your fingertips. High-quality outcomes for our partners enables us to expand our lending partnerships. It said, “We remain focused on the portfolio performance of our lending partners, and growth may be subdued until the industry outlook improves. ![]() The fintech also noted that it is looking at adding more lending partners. We have been able to successfully demonstrate improving credit quality for Paytm Postpaid.” The company added, “Over the past several quarters, we have talked about our plans to calibrate growth to further tighten credit quality of loans distributed on our platform. Paytm reported a massive jump in it’s loan distribution business, with total loans disbursed through the Paytm platform for quarter to date (for July and August) increasing by 137 per cent on a YoY basis to Rs 10,710 crore. Growth in payments volumes drives profitability for us, through net payments margin and/or from direct upsell potential.” Citi View On One 97 Communications (Paytm) -Buy rating, target cut to Rs 1,160 from Rs 1,200 per share -Robust August trends, devices competition heating up -Paytmu2019s leadership in devices has. The company noted, “We continue to see an increase in GMV of non-UPI instruments like EMI and cards. 8 million buyers already using two soundboxes without card payment capability. The company’s gross merchandise value for the quarter to date (for July and August), was worth Rs 3 lakh crore, gaining 43 per cent on a YoY basis. 2 days ago &0183 &32 Paytm unveils Soundbox device to accept card payments device costs 999 & merchants pay 99/month. The average monthly transacting users (MTU) for the company for the quarter to date (for July and August) stood at 9.4 crore, up by 20 per cent on a year-on-year (YoY) basis, it stated in the release. The company added, “With our subscription as a service model, the strong adoption of devices drives subscription revenues and higher payment volumes, while increasing the funnel for our merchant loan distribution.” Owned by parent company One97 Communications Ltd., Paytm stated it witnessed an increase of 42 lakh devices in the last 12 months and 5 lakh devices in August alone. The company, via an exchange release on Tuesday, stated that it provided 87 lakh devices to subscribers and distributed loans worth Rs 5,517 crore through the Paytm platform in August 2023. Fintech company Paytm reported sustained growth in it’s payments and loan distribution business in August. ![]()
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