Paytm reports 20% rise in monthly transacting users to 9.4 crore
Paytm on Tuesday announced its business operating performance metrics for quarter to date (July-August period).
The fintech giant continues to solidify its leadership of payment monetisation with 87 lakh devices deployed.
Elevate Your Tech Process with High-Value Skill Courses
Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitIndian School of BusinessISB Professional Certificate in Digital MarketingVisitWitnessing an increase of 4.9 lakh devices in the month, further strengthening its payment monetisation and cementing its leadership in in-store payments.
With its groundbreaking innovations, Paytm is bringing newer technology to small merchants across the country.
The company recently launched a series of new Soundbox devices — Paytm Music Soundbox, Paytm Pocket Soundbox, followed by yet another launch of Paytm Card Soundbox as of August.
«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,» said Paytm.
The tech innovator reflects a continued expansion of their customer base and increase in customer engagement for (July-August period) with a growth of 20 per cent YoY in monthly transacting users (MTUs) to 9.4 crore.
Paytm also saw an increase in total merchants volume with GMV marking a 43 per cent YoY growth to Rs 3 lakh crore ($36.3 billion).
As per the latest exchange filing, the company said that it continues to witness an increase in the GMV of non-UPI instruments like EMI and cards, and
