PayTm
Paytm beats PhonePe, GooglePay as India's highest revenue earner in mobile payments, financial services
Just inches away from a billion dollars, Paytm's revenue puts it the leading spot in the Indian fintech space and miles ahead of the likes of PhonePe or GooglePay. To put it into perspective, Paytm's Q4 revenues of Rs 2,334 crore were still ahead of PhonePe's revenues of Rs 1,912 crore for the first nine months of the calendar year 2022.
Paytm logs Rs 7,990 cr revenue in FY23, becomes India's highest earning new-age firm
In Q4 FY23, the company's revenue surged by 51 per cent (year-on-year) to reach Rs 2,334 crore, while the full-year revenue increased by 61 per cent YoY to Rs 7,990 crore, making it the highest earning new-age company. In Q4, Paytm further grew its operating profit by Rs 234 crore. In Q4, Paytm's EBITDA before ESOP costs, excluding UPI incentives, rose to Rs 101 crore, a significant improvement from the previous fiscal's Q4 figure of (Rs 368 crore).
Paytm Travel Carnival offers exciting discounts on flights, buses, trains
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).
Paytm posts updated shareholding for Q4 FY23, FPI shareholding almost doubles
The company has seen an increase in the shareholding of domestic institutions as well as foreign portfolio investors (FPIs). Domestic institutional shareholding has grown from 1.9 per cent to 3.2 per cent with mutual funds (MFs) and alternate investment funds (AIFs) increasing their stake. The overall shareholding of mutual funds has increased.
Paytm boosts offline payments leadership with 6.8 mn devices, GMV grows 40%
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.
Paytm UPI Lite crosses 4 million users with 10 million transactions to date
Currently, 10 banks support Paytm UPI Lite -- Paytm Payments Bank, Canara Bank, Central Bank of India, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, Union Bank of India, and Utkarsh Small Finance Bank. Several other major banks are expected to go live with Paytm UPI Lite soon, the company said.
Paytm Wallet now universally acceptable on all UPI QRs, online merchants
"As the pioneer of mobile payments and QR based payments, this move presents incredible growth opportunities for India's payment ecosystem. In line with RBI's mission of making 'Har Payment Digital', we are the largest acquirer for UPI merchant payments," a Paytm Payments Bank Spokesperson said in a statement.
Paytm UPI LITE crosses 2 mn users with over half a million daily transactions
The Bank recorded over half a million daily transactions for Paytm UPI LITE through the Paytm app, it said in a statement. "We have seen great adoption of Paytm UPI LITE, having crossed the milestone mark of over 2 million users within a short span of time," said a Paytm Payments Bank spokesperson. "With Paytm UPI, we bring lightning-fast payments that never fail, powered by the latest UPI LITE technology and the security of Paytm Payments Bank," the spokesperson added.
Paytm monthly transacting users surge to 89 mn, leads offline payments with 6.4 mn devices
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.
Paytm Payments Bank goes live with UPI LITE
With this, users can activate their UPI LITE accounts linked to their Paytm Payments Bank savings accounts for hassle-free transactions. For payments of up to Rs 200, UPI Lite eliminates the need of UPI PIN. UPI LITE is exclusively available on Paytm app, the company said.
Advertisement