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Paytm slowing down low ticket Postpaid loans by around 50%, accelerating high ticket loans
Money Control
ยท
1y ago
Medial
Paytm has announced that it will be slowing down its small ticket Postpaid loans while focusing on expanding high ticket personal loans and merchant loans. This decision is in line with recent regulatory guidance and aims to ensure a healthy loan portfolio. While there have been complaints from users regarding blocked accounts, Paytm has denied stopping the loan service and claims that it is upgrading the experience and enhancing security measures. The company's lending partners have not stopped lending to its customers.
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Paytm slumps to A 7-month low, brokerages cut price targets after postpaid loan scale down
Inc42
ยท
1y ago
Medial
Shares of Paytm plunged nearly 19% to a seven-month low of INR 661.3 on the BSE, following the company's decision to scale down its postpaid loans or BNPL lending category. Brokerages including Goldman Sachs and Jefferies have cut their price targets on Paytm, with Goldman Sachs also downgrading its rating to 'neutral'. The move comes after Paytm decided to focus on expanding high-ticket personal and merchant loans, following regulatory changes by the Reserve Bank of India. Paytm shares are now trading over 24% higher year-to-date.
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Paytm halts postpaid loans, to focus on distribution-only model
Economic Times
ยท
1y ago
Medial
Paytm has paused the distribution of postpaid loans since February, signaling a shift in its lending approach. The value of postpaid loans distributed dropped over 90% to Rs 720 crore in the March quarter of FY24. Paytm is becoming more cautious with its small-ticket size personal loans business due to deteriorating asset quality. The company will not disburse collections-based loans unless incentivized to do so through collections bonuses. It will focus more on distribution-only models for personal loans, compressing its take rates in the 3-3.5% range. This follows a regulatory crackdown by the Reserve Bank of India.
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Paytm shares tank 20% after company looks to curtail low-value personal loans
Economic Times
ยท
1y ago
Medial
Shares of Paytm, operated by One97 Communications, plummeted 20% after the company announced plans to issue fewer personal loans below Rs 50,000 ($600). This decision comes in response to tighter regulations imposed by the Reserve Bank of India (RBI) on consumer lending, particularly for small-ticket loans. Paytm aims to focus on higher-ticket loans to lower-risk and high-credit-worthy customers, expecting a strong demand in this segment. The company estimates a 40%-50% decline in loan volume but minimal impact on revenue growth.
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Paytm To Resume Loan Disbursals In First Week Of March
Inc42
ยท
1y ago
Medial
Paytm, the Indian fintech giant, plans to resume its loan disbursals in the first week of March. The company had temporarily ceased its small-ticket loans of less than INR 50,000 following tightened regulations by the Reserve Bank of India. Paytm is now looking to restart its lender platform provider operations, aiming to increase high-ticket personal and merchant loans in partnership with banks and non-banking financial institutions. Paytm's lending business grew rapidly in the first three quarters of 2023, with loan disbursals reaching INR 15,535 crore, but experienced a decline due to scaling down of small-ticket loans.
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Paytm among BofA securitiesโ top picks in Asia pacific for Q1 2024
Inc42
ยท
1y ago
Medial
Paytm, the parent company of One97 Communications, has been listed among BofA Securities' top 10 short-term recommendations for the Asia Pacific region in the first quarter of 2024. Paytm's focus shift towards high ticket, high margin loans is seen as a positive move. Although the recent scaling down of the buy now, pay later (BNPL) business is expected to have minimal immediate impact, Paytm is predicted to turn profitable this year. Regulatory risks and potential stake sales by pre-IPO holders are noted as key risks.
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Paytm Tentative Timeline To Restart Loan Sanctioning Ends On Feb 14
OutlookIndia
ยท
1y ago
Medial
Fintech firm Paytm's timeline to resolve operational challenges and restart sanctioning new loans is set to end on February 14. Paytm, affected by RBI restrictions on Paytm Payments Bank Limited (PPBL), plans to resolve the challenges before returning to normal operations. It needs to migrate repayments linked to PPBL to other banks to avoid disruption. In the last quarter of 2023, Paytm distributed loans worth Rs 15,535 crore to merchants, individuals, and through postpaid loans.
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PhonePe rival Paytm Q3FY24's revenue rises to Rs 2,850Cr; Know the losses
IndianStartupNews
ยท
1y ago
Medial
Paytm's parent company One97 Communications has reported a 38% year-over-year increase in revenue, reaching Rs 2,850.5 crore in Q3 FY24. The significant growth was driven by a rise in the payments business, which saw a 45% increase in revenue. Paytm also witnessed a reduction in losses, narrowing down to Rs 221.7 crore. The company plans to introduce new use cases like Credit on UPI and Autopay, expand high-ticket loans, and venture into embedded insurance and merchant insurance.
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Paytm shifts focus to higher ticket loans
Economic Times
ยท
1y ago
Medial
Paytm, the Indian digital payments firm, is reportedly shifting its focus to providing higher-ticket loans, as it aims to expand its financial services offerings. The company plans to partner with other financial institutions to offer loans ranging from INR 20,000 to INR 2 lakh ($275 to $2,750). Paytm has already received approval from its board to collaborate with NBFCs (non-banking financial companies) or banks for this initiative.
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Rupee falls for seventh year in a row, ends 2024 at record closing low
VCCircle
ยท
7m ago
Medial
The Indian rupee declined for the seventh consecutive year in 2024, ending at a record low of 85.6150 per U.S. dollar, down 2.8% for the year. It was affected by domestic challenges such as slowing growth and a widening trade deficit, and international factors like the surge in the U.S. dollar following Donald Trump's election victory. Despite India's forex reserves hitting a high, the Reserve Bank of India's interventions struggled to stabilize the currency amid volatile market conditions.
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Paytm records 20% rise in monthly users in July-August, GMV up 43%
Livemint
ยท
1y ago
Medial
In August 2023, Paytm disclosed that it disbursed loans amounting to โน5,517 crore ($667 million) through its lending platform. The company also reported a 43% year-on-year increase in its merchant payment volumes (GMV) to โน3 trillion ($36.3 billion) in July-August 2023, up from โน2.1 trillion during the same period in 2022. Additionally, Paytm experienced a significant rise in GMV for non-UPI instruments like EMI and cards. The company's loan distribution business, in partnership with lending partners, grew by 137% year-on-year, with disbursements totaling โน10,710 crore ($1.3 billion) in July-August 2023. The number of loans increased by 47% year-on-year, reaching 8.8 million during the same period. Paytm deployed 8.7 million devices as of August 2023, a year-on-year increase of 4.2 million devices. The company attributed its strong performance to its subscription-as-a-service model, which boosted subscription revenues, payment volumes, and merchant loan distribution. Paytm also emphasized its commitment to improving the credit quality of loans and highlighted reduced expected credit loss (ECL) figures for Paytm Postpaid. Despite potential subdued growth in the lending industry, Paytm remains focused on portfolio performance and plans to onboard three to four new lending partners in FY24.
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