Paytm (One 97 Communications Limited) leadership in offline payments strengthens with 6.8 million devices deployed; loan disbursements of Rs 4,468 Cr ($544 million) in the month of March 2023 through the Paytm platform, the company said in an exchange filing.
Average monthly transacting users (MTU) stood at 90 million for the quarter (average for three months ended March 2023), up 27% y-o-y, reflecting continued expansion of our customer base.
Subscription devices like Soundbox and POS machines continue to see increased acceptance by merchants, driving additional payment monetization for us. Number of merchants paying subscription for payment devices has reached 6.8 million as of March 2023, an increase of 1.0 million in the quarter.
Merchant Payment Volumes (GMV) for the quarter (for three months ended March 2023) stood at Rs 3.62 Lakh Cr ($44 billion), y-o-y growth of 40%.
Our loan distribution business (in partnership with our lender partners) continues to gain scale with disbursements of Rs 4,468 Cr ($544 million, y-o-y growth of 206%) and 4.1 million loans (y-o-y growth of 63%) disbursed in the month of March 2023 through the Paytm platform.
