Paytm's In-Store Payments To Lead Small Businesses: Report In an official release, the fintech giant claimed that it continues to solidify its leadership in in-store payments with 82 lakh devices deployed, a growth of 101% YoY

By Teena Jose

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India's payments and financial services company Paytm has announced its business operating performance metrics for July 2023. The company claimed that it has gained recognition in the field of in-store payments, becoming one of the preferred choices for merchants seeking to digitise their businesses.

In an official release, the fintech giant claimed that it continues to solidify its leadership in in-store payments with 82 lakh devices deployed, a growth of 101% YoY. Furthermore, in one month, Paytm has added 3.8 lakh devices, crossing a new milestone in in-store payments, as per the company.

As per the latest exchange filing, Paytm has said that its focus in the last few quarters continues to be on payment volumes that generate profitability for the company, either through net payments margin or from direct upsell potential.

Additionally, Paytm's loan disbursals have also scaled with the total loans disbursed through its platform, in partnership with leading banks and NBFCs, growing 148% YoY to INR 5,194 crore ($632 million). The number of loans disbursed increased 46% YoY to 43 lakh, as per the platform.

"We continue to work with our partners to ensure superior credit quality for loans distributed through us. To ensure that portfolio performance of our lending partners improves despite economic uncertainties, our credit disbursement growth will be deliberately calibrated over the next quarter or two," the company in its stock exchange filing said.

The company's operational profitability streak continues for three straight quarters with its EBITDA before ESOP cost has improved to INR 84 crore as compared to INR 52 crore in Q4FY23 (excluding UPI incentives), added the report.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

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