New Delhi: India’s leading digital ecosystem for consumers and merchants Paytm filed its monthly business update with the exchanges. The company demonstrated strong operating performance in the month of October 2021, with record growth in platform usage for digital payments and financial services. GMV processed through the platform for the month of October 2021 aggregated to approximately INR 828 Bn ($ 11.1 Bn), a growth of 131% over the same period last year.
The month of October alone saw a rapid surge in the numbers of consumers and merchants transacting on the Paytm ecosystem, reflecting an increase in the frequency of transactions or engagement and growing adoption of Paytm’s innovative products & services.
Paytm recorded an accelerated growth in GMV in October 2021, driven by increased consumption and festive season spends, continued opening up of physical stores and establishments with the easing of COVID-19 restrictions. This was in addition to the consistent growth in the merchant base, increased deployment of offline payment devices across the country, and also the introduction of varied new categories on the platform.
● Highest monthly GMV ever
Paytm witnessed a continued increase in consumer traffic and transactions on the ecosystem as Monthly Transacting Users hit a six-quarter high. 63 MM consumers transacted on the ecosystem in October 2021. This is a growth of 35% over the 47 MM MTUs in October 2020.
● Sharp growth in MTUs
This also translated into increased Average GMV per transacting user in a month; that is heightened consumer and merchant engagement in our ecosystem. The company’s monthly GMV / MTU increased to INR 13,149 ($176) in October 2021, a growth of 70% over INR 7,736 ($104) during the same month last year.
● Record surge in consumer and merchant transactions
Paytm continued to witness the strong adoption of its POS and Soundbox devices among its merchant partners. The total number of such devices deployed across the merchant base, increased from 0.9 MM as of June 30, 2021, to 1.4 MM as of October 31, 2021, a 55% jump in four months.
● Strong expansion of offline payment devices distribution
The company is excited about the future growth prospects of its financial services businesses. The October month saw a continued increase in adoption across its different financial services products.
The lending business continued to show very strong growth as a result of the rapid scale-up of all of its lending products and the addition of a new partner, HDFC Bank. . Due to a cautious approach in making new disbursements due to the second wave of the COVID-19 pandemic in May 2021 and June 2021, the company processed a total of 1.4 million loans through our financial institution partners in Q1 FY 2022. Paytm saw a continued recovery in the segment as our financial institution partners’ disbursal almost doubled with over 2.8 million loans in Q2 FY 2022. The October 2021 month saw a continued increase in adoption across different financial services products.
The lending business continued to show very strong growth as a result of the rapid scale-up of all of Paytm’s lending products, including Postpaid, consumer loans, and merchant loans. Paytm’s financial institution partners disbursed a total of 1.3 million loans in October 2021 aggregating to a total disbursal of INR 6,270 million ($84 million), implying a 472% increase in numbers of loans disbursed Y-o-Y and 418% increase in value of loans disbursed Y-o-Y.
● Loans value and volume sees sustainable growth
The table below summarizes the key operating metrics as highlighted above.
| For quarter ending
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For month of
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| Jun-20 | Sep-20 | Dec-20 | Mar-21 | Jun-21 | Sep-21 | Sep-21
Y-o-y |
Oct-20 | Oct-21 | Oct-21 YoY |
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| GMV | INR Bn | 697 | 947 | 1,121 | 1,268 | 1,469 | 1,956 | 107% | 360 | 828 | 130% |
| Average MTU | MM | 40 | 43 | 47 | 50 | 50 | 57 | 33% | 47 | 63 | 35% |
| Monthly GMV / MTU | INR | 5,849 | 7,334 | 7,934 | 8,389 | 9,719 | 11,369 | 55% | 7,736 | 13,149 | 70% |
| Loans Disbursed through Paytm | ‘000s | 23 | 349 | 881 | 1,381 | 1,433 | 2,841 | 714% | 228 | 1,300 | 471% |
| Value of loans disbursed through Paytm | INR Bn | 0.4 | 2.1 | 4.7 | 6.9 | 6.3 | 12.6 | 499% | 1.2 | 6.3 | 418% |
| Total Devices | MM | 0.2 | 0.3 | 0.6 | 0.8 | 0.9 | 1.3 | 0.4 | 1.4 | ||