INDIA - Digital payments giant Paytm continues to make strides in India's fintech sector, having surpassed over 100 million monthly active users. The company reported a substantial 38% increase in revenue for the third quarter, amounting to ₹2,850.5 crore, and a reduced net loss of ₹221 crore compared to the same period in the previous financial year. These figures underscore Paytm's growing influence in the digital economy and its successful strategy of monetizing new user acquisitions.
Since its IPO in November 2021, Paytm has maintained a strong focus on profitability. One of the key drivers of this has been the growth of merchant subscriptions, which now stand at over one crore. Additionally, Paytm has expanded its monetization avenues to include merchant lending and marketing services, as well as Merchant Discount Rate (MDR) on RuPay credit cards.
The company's growth strategy is further strengthened by its continuous efforts to improve operational efficiencies and consolidate its market presence. A significant part of this involves embracing technological advancements such as artificial intelligence. By integrating AI into its operations, Paytm is streamlining technology updates and bolstering operational efficiencies.
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