Paytm attributed the decline in the value of loans disbursed in April to a temporary pause in merchant loan distribution for one of its partners due to a technology systems upgrade
The fintech company’s average monthly transacting users (MTU) rose 25% YoY to 9.2 Cr in April, while it added 3 Lakh subscription paying merchants for its payment devices
On Friday, Paytm reported a 78% decline in its net loss to INR 167.5 Cr in Q4 FY23, as its payment services and financial services verticals witnessed sharp growth
Fintech major Paytm on Saturday (May 6) said it disbursed 41 Lakh loans worth INR 4,115 Cr ($503 Mn) in April, a year-on-year (YoY) rise of 56% and 148%, respectively.
However, the value of loans disbursed declined nearly 8% from INR 4,468 Cr in March, while the number of loans disbursed remained unchanged.