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Paytm cements merchant payments leadership

Paytm’s leadership in offline payments strengthened with 71 lakh devices deployed, an increase of three lakh devices in April 2023….reports Asian Lite News

Payments and financial services company and pioneer of QR and mobile payments Paytm on Saturday posted its operating business update for April 2023.

In a stock exchange filing, the company said it continued to see growing consumer engagement on the ‘Paytm Super App’ with the average monthly transacting users for the month growing 25 per cent year-on-year to 9.2 crores, reflecting continued expansion of its customer base.

Paytm’s leadership in offline payments strengthened with 71 lakh devices deployed, an increase of three lakh devices in April 2023.

“Our leadership in payment monetization continues, as subscription services for payment devices like Soundbox and POS machines continue to see increased acceptance by merchants,” said the company in the filing to the stock exchanges.

The company also said that with its subscription as a service (SaaS) model, the strong adoption of devices drove subscription revenues and higher payment volumes.

With increased engagement from consumers and merchants, the total merchant Gross Merchandise Value processed through Paytm platform for the month of April 2023 was Rs 1.27 lakh crore ($15.6 billion), marking a year-on-year growth of 34 per cent.

“Our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential,” Paytm said.

In its loan distribution business (in partnership with large lenders), Paytm continues to witness healthy growth with total loans distributed through its platform for the month of April 2023 growing 148 per cent year-on-year to Rs 4,115 crore (USD 503 million).

“We continue to see growth in distribution of Postpaid and Personal Loans,” it said.

On Friday, Paytm announced its Q4 FY23 results.

It reported a 51 per cent yearly growth in revenue from operations to Rs 2,334 crore, driven by growth in payments and loan distribution business. The company reported an operating profit for the second straight quarter. It reported EBITDA before ESOP cost of Rs 234 crore, including the full-year UPI incentive. (ANI)

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Business India News

Paytm Travel Carnival from May 1-5

The carnival will see participation from major airlines — IndiGo, SpiceJet, GoFirst, Vistara, Akasa Air, AirAsia, and Air India…reports Asian Lite News

One97 Communications Limited (OCL), that owns India’s leading payments and financial services company Paytm, on Wednesday announced ‘Paytm Travel Carnival’ from May 1-5.

With this sale, users will be able to book flight, train and bus tickets for the summer holiday season through Paytm app and get attractive discounts, said the company.

The carnival will see participation from major airlines — IndiGo, SpiceJet, GoFirst, Vistara, Akasa Air, AirAsia, and Air India.

The company is offering instant discounts of up to 15 per cent on domestic and up to 10 per cent on international flight ticket bookings through bank offers from RBL Bank (Credit Card and Credit Card EMI), Yes Bank (Credit Card) and HSBC India (Credit Card and Credit Card EMI).

Additionally, it is offering a special fare for students, senior citizens and Armed Forces personnel. For further convenience, users can opt for zero convenience fee charge.

The company said it is also offering up to 25 per cent discount on bus bookings with an additional 10 per cent off on specific operators. Under Best Price Guaranteed, it assures users of the lowest price across 2,500+ operators.

For train tickets, the company is offering a zero payment gateway charge on payments through UPI. With Paytm app, users can book tatkal tickets, check the PNR status of their bookings, track trains live, and get 24X7 customer support for all the train travel queries.

“Additionally, if users are unsure of their plan but want to lock in their tickets at the sale fares, they can purchase ‘Cancel Protect Cover’ which enables them to claim 100 per cent refund if they cancel their flight, train and bus tickets on Paytm, without any hidden charges or cancellation fee,” the company informed.

This gives users the opportunity to book tickets now during the Paytm Travel Carnival and plan their trip later or cancel if needed, without losing any money.

Paytm is the preferred online platform for travel bookings and is an International Air Transport Association (IATA) accredited travel agent.

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Business India News

Paytm hits another milestone

The Paytm Super App continues to drive higher user engagement for the company’s comprehensive payment services….reports Asian Lite News

Leading payments and financial services company Paytm on Wednesday said it has achieved a new milestone in offline payments with 6.8 million devices deployed, while consumer engagement is the highest on the Paytm Super App at 90 million average monthly transacting users.

The merchant gross merchandise value (GMV) for the quarter (for three months ended March 2023) grew 40 per cent YoY to Rs 3.62 lakh crore ($44 billion).

Loan distribution, in partnership with lending partners, also witnessed accelerated growth with disbursements of Rs 4,468 crore (increased 206 per cent YoY) in March 2023, according to the company as it announced its business operating performance for Q4FY23.

The company said in its stock exchange filing that “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.”

The Paytm Super App continues to drive higher user engagement for the company’s comprehensive payment services.

The average monthly transacting users (MTU) for the quarter at 90 million, registering a growth of 27 per cent YoY, reflects a continued expansion of Paytm’s consumer base.

Paytm’s loan distribution business, in partnership with top financial institutions, continues to gain scale.

The total number of loans disbursed surged 82 per cent YoY to 11.9 million in the quarter with 4.1 million loans (63 per cent growth YoY) disbursed in the month of March 2023 through the Paytm platform.

“Our payments consumer and merchant base offers a large addressable market, thereby providing a long runway for growth. We continue to work with our partners to remain focused on the quality of the book,” the company said.

In the last quarter, Paytm achieved its milestone of operating profitability, much ahead of its September 2023 guidance.

The fintech giant’s EBITDA before ESOP cost stood at Rs 31 crore with EBITDA before ESOP margin at 2 per cent of revenues as compared to (27 per cent) a year ago.

Paytm’s revenue from operations increased 42 per cent YoY to Rs 2,062 crore in Q3FY23, driven by growth in its core payments business and sustained growth momentum in credit business and commerce business.

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Business India News

Paytm logs jump in transacting users

Paytm.

Consumer engagement on the Paytm Super App continues to see robust growth..reports Asian Lite News

Leading digital payments and financial services company Paytm on Monday announced its business operating performance for the two months ended February 2023.

Consumer engagement on the Paytm Super App continues to see robust growth with the average Monthly Transacting Users (MTU) for the two months at 89 million, registering a growth of 28 per cent (year-on-year).

The company said it is seeing consistent growth in merchant payments volume with the total merchant Gross Merchandise Value (GMV) processed through the platform for the two months ended February 2023 aggregating to Rs 2.34 lakh crore ($28.3 billion), marking a year-on-year growth of 41 per cent.

“Our focus over the past few quarters continues to be on payment volumes that generate profitability for us, either through net payments margin or from direct upsell potential,” said Paytm, which pioneered QR and mobile payments in India.

The fintech giant’s focus on creating additional payment monetisation with subscription services has continued to expand, it added.

Paytm’s leadership in offline payments strengthened further with 6.4 million merchants now paying subscription for payment devices, an increase of 0.3 million in the month of February.

“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,” Paytm said in its stock exchange filing.

The company’s loan distribution business, in partnership with top lenders, continues to witness accelerated growth with disbursements through the platform for the two months ended February 2023 growing 286 per cent year-on-year to Rs 8,086 crore ($979 million).

The number of loans disbursed in the two months surged 94 per cent to 7.9 million loans.

Paytm said it continues to work with its lending partners to remain focused on the quality of the book, adding its payments consumer and merchant base offers a large addressable market.

In its recently announced October-December quarter (Q3FY23) results, Paytm achieved the milestone of operating profitability, nine months ahead of its September 2023 guidance.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) before employee stock ownership plan (ESOP) cost stood at Rs 31 crore with EBITDA before ESOP margin at 2 per cent of revenues as compared to (27 per cent) a year ago.

Its revenue from operations increased 42 per cent year-on-year to Rs 2,062 crore, driven by growth in its core payments business and sustained growth momentum in the credit business and commerce business.

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Business India News Tech Lite

Paytm appoints Anuj Mittal as VP for investor relations

Paytm’s strong business fundamentals are seen in its accelerated growth in revenues — which in the last quarter itself grew 89 per cent y-o-y to Rs 1,456 crore…reports Asian Lite News

India’s leading digital payments and financial services company, One 97 Communications Limited (‘OCL’) which owns the brand Paytm has appointed Anuj Mittal as Vice President, Investor Relations as part of the company’s continued commitment to building a strong team with demonstrated leadership skills in the financial sector.

With his appointment, Anuj joins a long list of business leaders who are a part of Paytm’s management team that contributes to the company’s business growth. Anuj would be reporting directly to Paytm President and Group CFO Madhur Deora.

Some of his areas of expertise are Investor Relations, Strategy, Mergers & Acquisitions, Financial Risk Management, Credit underwriting, and Treasury sales. In his new role, Anuj is expected to lead the company’s IR Strategy and steer Paytm to new heights of success. Anuj will drive the company’s corporate-investor relations, acting as a liaison between the management and investors.

As per Anuj’s LinkedIn, he has joined Paytm from L&T Financial Services where he served as Head of Strategy and Investor Relations. He has also served in leadership roles at some of the most reputed financial services companies including JP Morgan, Standard Chartered Bank and Piramal Capital. He has nearly 19 years of rich experience working in the financial services sector and has spent a decade in leadership roles.

Paytm’s strong business fundamentals are seen in its accelerated growth in revenues — which in the last quarter itself grew 89 per cent y-o-y to Rs 1,456 crore.

In the first two months of the current quarter, the company continues to show dominance across its businesses — scaled to 4.1 million loan disbursals during the first two months of the quarter (y-o-y growth of 449 per cent), which aggregates to a total loan value of Rs 2,095 crore (y-o-y growth of 366 pr cent), 105 per cent Y-o-Y increase in GMV at Rs 1,65,333 crore ($22.2 billion) and 41 per cent growth in monthly transacting users to 69.5 million. It continues to lead in the offline payments business, with the number of devices deployed growing to 2.6 million.

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India News Tech Lite

Paytm CEO arrested, later released on bail for rash driving

Seeing the traffic jam, Constable Dipak slowed down and it was at that time when the speeding Land Rover hit his vehicle from behind…reports Asian Lite News

Paytm CEO Vijay Shekhar Sharma was arrested by the Delhi Police for allegedly ramming into a senior police official’s car in February and later was released on bail, a senior official confirmed the incident on Sunday.

Delhi Police Spokesperson Suman Nalwa told that the incident took place on February 22 in south Delhi’ Malviya Nagar area.

“The accused rammed the car of south Delhi Deputy Commissioner of Police (DCP), Benita Mary Jaiker. However, the DCP was not present inside the car at the time of the incident,” the official said.

According to the official, the accident happened outside Mother International School, Sri Aurobindo Marg on February 22 when DCP’s driver had taken out the car for refueling. None was injured in the accident and DCP’s driver Constable Dipak Kumar immediately noted down the number of the alleged Land Rover that hit his car and informed DCP Jaiker about the incident, who asked him to file a complaint.

The accused driver of the Land Rover had fled the spot after the accident. In the FIR, Constable Kumar alleged that he had gone to re-fuel his car and around 8 a.m. on that day when he reached outside the Mother International School’s Gate No 3, there was a heavy traffic jam as parents had come to drop their children to the school. Seeing the traffic jam, Constable Dipak slowed down and it was at that time when the speeding Land Rover hit his vehicle from behind.

Accordingly, the police registered an FIR under section 279 (Rash driving or riding on a public way) of the Indian Penal Code at the Malviya Nagar Police station.”

On investigation, the offending vehicle was identified and its driver Vijay Shekhar Sharma was arrested after identification on February 22 and released on bail on the same day,” PRO Nalwa said.

Both the vehicles DL 1 CU 9321 (DCP Jaiker’s car) and offending vehicle HR 98 C 0197 were impounded and mechanically inspected. Investigation in the case is still in progress, the official added.

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COVID-19 India News Lite Blogs

Tech leaders urge to help ‘breathless India’

He also called up start-ups and companies to contribute at this crucial hour…reports Asian Lite News.

Oxygen shortage has become a huge crisis in India. More than two weeks after oxygen shortages were reported across India, particularly in the national capital, many technology leaders have come forward to help the citizens.

“We have sourced supplies for oxygen concentrators of different sizes while we place the order using our own money. We want you to join hands in solving #OxygenShortage,” Vijay Shekhar, Founder Paytm said in a tweet on Sunday.

“Donate here https://paytm.com/offer/donateoxygen and we will match your contribution and use it to source OCs. Also, do RT,” he added.

Foodtech platform Zomato on Wednesday rolled out a priority delivery feature for Covid-19 emergencies, including oxygen, Chief Executive Officer Deepinder Goyal announced on Twitter.

“Zomato Feeding India, our not-for-profit has kickstarted the “Help Save My Indiaa endeavour today in association with @delhivery to source oxygen concentrators and related supplies to help hospitals and families in need,” Goyal tweeted.

He also called up start-ups and companies to contribute at this crucial hour.

“We have already kickstarted the effort, and now need your help to raise a,50 crores for @FeedingIndia in the next few days (hours?) to save hundreds of thousands of lives. If we raise more, we will get more oxygen. Domestic donors go here – http://zoma.to/oxygen,” he added.

Under its “feed the daily wager” campaign, initiated last year, Zomato distributed 78 million meals for poor who lost access to livelihood, it said.

The second wave of Covid has turned more deadly as more and more people this time are complaining of breathlessness and need oxygen support. However, the sudden spike in demand across cities has led to severe shortage.

Several major hospitals in Delhi have repeatedly come close to running out of oxygen and have sent SOS messages. Besides Delhi, hospitals across Maharashtra,Gujarat, Haryana, Madhya Pradesh are also facing an oxygen shortage.

“I’m willing to fund hospitals in India that need funding to import bulk planeloads of oxygen or supplies into India to increase supply. Public hospitals/NGO’s also pls reach out,” Vinod Khosla, technology guru and entrepreneur, said in a tweet on Sunday.

A lot of people have also turned to social media to find oxygen or a hospital bed for their friends and family.

Meanwhile, Prime Minister Narendra Modi held a virtual meeting with the leading oxygen manufacturers to address the acute shortage of medical oxygen and oxygen cylinders across the country.

India on Sunday reported a record daily rise of 349,691 new coronavirus infections, taking its overall tally to 1,69,60,172.

A total of 2,767 people were reported dead on Sunday, according to health ministry data, taking total coronavirus fatalities to 192,311.

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