LATEST UPDATES

Curtain-Raiser: 45 women entrepreneurs to join KU exhibition on May 29

Precious Kashmir 28/05/2023

Experts call for developing disaster-resilient society as KU symposium concludes

Precious Kashmir 27/05/2023

LeT militant associate arrested along with grenade in Baramulla: Police

Precious Kashmir 27/05/2023

Cloudy to mainly dry weather forecast on weekend, rains from May 29-31 in J&K

Precious Kashmir 27/05/2023

3 visually impaired siblings killed as house collapses in Kishtwar

Precious Kashmir 27/05/2023

KU VC inspects PG entrance test centre, teaching departments

Precious Kashmir 26/05/2023

Woman among 2 mysteriously found dead in Kulgam, Anantnag

Precious Kashmir 26/05/2023

MeT predicts more rains as mercury drops below normal in J&K

Precious Kashmir 26/05/2023

25-year-old man found dead in Anantnag

Precious Kashmir 26/05/2023

KU reschedules physical efficiency test scheduled on May 26 in view of inclement weather

Precious Kashmir 25/05/2023

Reasi man killed in hit-and-run accident in Kulgam

Precious Kashmir 25/05/2023

3 Padma awardees among eminent scientists join 3-day symposium on earthquake resilience at KU

Precious Kashmir 25/05/2023
  • Need to change our mindset

    Roscoe Pound’s Theory of Social Engineering

    1345 shares
    Share 538 Tweet 336
  • Understanding Acne and Acne face mapping.    

    522 shares
    Share 209 Tweet 131
  • J&K Govt unveils draft schedule of rates-2022

    552 shares
    Share 221 Tweet 138
  • 4 JKAS officers transferred

    498 shares
    Share 199 Tweet 125
  • No tourist complained about non-availability of WiFi in house boats : AD Tourism

    504 shares
    Share 202 Tweet 126
  • 9 Amazing Black Grapes Benefits

    684 shares
    Share 274 Tweet 171
  • 8 drug peddlers, smugglers held: Police

    495 shares
    Share 198 Tweet 124
  • Home
  • Front
  • Jammu & Kashmir
    • City
  • Anchor stories
  • Business
  • Sports
  • National
  • World
  • Opinion
    • Edit
    • Interviews
    • Letters
  • epaper
Monday, May 29, 2023
PRECIOUS KASHMIR
No Result
View All Result
  • Home
  • Front
  • Jammu & Kashmir
    • City
  • Anchor stories
  • Business
  • Sports
  • National
  • World
  • Opinion
    • Edit
    • Interviews
    • Letters
  • epaper
Precious Kashmir
No Result
View All Result
Home Anchor stories

Paytm beats PhonePe, G-Pay as India’s highest revenue earner in mobile payments, financial services

Indo Asian News Service by Indo Asian News Service
11/05/2023
in Anchor stories
2 min read
‘Paytm may enter two more developed markets in 2019’
FacebookTwitterWhatsappEmail

New Delhi: Indian fintech giant Paytm on Wednesday reported its financial performance for FY23, where its revenues swelled to Rs 7,991 crore for the fiscal year.

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.

While PhonePe and Google Pay are focused on UPI P2P, Paytm has taken the cake with its diversification of business. In fact, Paytm has been focused on merchant payments, where it actually makes money.

In the fourth quarter, Paytm also recorded UPI incentives worth Rs 182 crore in the quarter, up by 101 per cent on a yearly basis.

Paytm has built a key differentiation in the market for itself with the widest array of payment instruments like Wallet, UPI, Postpaid, Food Wallet, Fastag and a variety of banking products available through Paytm Payments Bank.

For offline transactions, the company has devices like Paytm QR code, Android Smart POS, EDC (Electronic Data Capture) device, IoT devices and the soundbox.

Furthermore, the company has built a solid lending business, wherein it has seen a 364 per cent increase in the value of loans distributed through its platform.

In Q4 FY 2023, revenue for financial services and others grew 183 per cent (year-on-year) to Rs 475 crore. For FY 2023, revenue from Financial Services and others jumped 252 per cent to Rs 1,540 crore.

All of this has also made Paytm profitable. The company which reported operating profitability in the third quarter, has further grown it to Rs 101 crore. For the full year, Paytm has silenced critics with an improvement of Rs 1,342 crore in EBITDA before ESOP costs.

With significant investments in sales, manpower, and improvement in the technology platform, while continuing to grow its revenue, Paytm’s leadership across its diverse businesses is expected to grow.

 

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to print (Opens in new window)

Related

Share197Tweet123SendSend
Indo Asian News Service

Indo Asian News Service

  • Need to change our mindset

    Roscoe Pound’s Theory of Social Engineering

    1345 shares
    Share 538 Tweet 336
  • Understanding Acne and Acne face mapping.    

    522 shares
    Share 209 Tweet 131
  • J&K Govt unveils draft schedule of rates-2022

    552 shares
    Share 221 Tweet 138
  • 4 JKAS officers transferred

    498 shares
    Share 199 Tweet 125
  • No tourist complained about non-availability of WiFi in house boats : AD Tourism

    504 shares
    Share 202 Tweet 126
  • 9 Amazing Black Grapes Benefits

    684 shares
    Share 274 Tweet 171
  • 8 drug peddlers, smugglers held: Police

    495 shares
    Share 198 Tweet 124
Precious Kashmir

Copyright © 2020 Precious Kashmir.

Navigate Site

  • Home
  • About Us
  • Contact Us
  • Advertise with Us
  • Terms of Service

Follow Us

No Result
View All Result
  • Home
  • Front
  • Jammu & Kashmir
    • City
  • Anchor stories
  • Business
  • Sports
  • National
  • World
  • Opinion
    • Edit
    • Interviews
    • Letters
  • epaper

Copyright © 2020 Precious Kashmir.