Paytm crosses 100 million users at end-December

Listed fintech Paytm has crossed 100 million monthly active users, the company said in a press release on Monday.

The company is focussed on acquiring new users who can be monetised, founder Vijay Shekhar Sharma said.

“There are products like UPI Credit, UPI autopay which are actually going through the roof and we believe that it will generate high quality customers on our platform," he said


Sharma added that by using artificial intelligence in code generation, the company is seeing accelerated deployment of technology updates and is also bringing in operational efficiencies.

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Paytm's merchant subscriptions stood at 1.06 crore, as of December 2023. The Noida-based company is looking at enhanced monetisation opportunities through subscription revenue, MDR on products like RuPay credit cards, merchant lending and marketing services to merchants.

"Our approach has been led by multiple devices like soundbox, card machines and we have a few more in the pipeline," Sharma said.

On Friday, Paytm said its revenue for the third quarter stood at Rs 2,850 crore, up 38% on year, driven by accelerated GMV growth, higher device addition and growth of the financial services business.

The stock closed last week at Rs 784.2 with its market capitalisation at Rs 49,800 crore ($6 billion).