Paytm nears 6 million merchants paying subscription for payment devices in Q3

Technology for MSMEs: Digital payments company Paytm on Monday reported 190 per cent year-on-year (YoY) growth in the number of merchants paying subscription for its payment devices (PoS terminals and soundboxes) during the third quarter of the current fiscal. The company, in an exchange filing on Q3 operating performance update, reported growth from 2 million devices or merchants in the quarter ending December 2021 to 5.8 million as of December 2022, an addition of 3.8 million devices over the year. Quarter-on-quarter, Paytm added 1 million devices from 4.8 million in the quarter ending September 2022. The payment devices confirm payments through voice alerts to merchants.

The growth comes on the back of Vijay Shekhar Sharma-led Paytm’s focus on creating an additional payment monetization stream beyond merchant discount rate (MDR) — the rate at which merchants are charged for accepting digital payments through different payment methods.