Paytm says October GMV rose 131% to $11.2 billion

Bengaluru: Paytm NSE -11.71 %, which listed on domestic bourses last week, said its gross merchandise value (GMV)—or payments made to merchants through its platform—jumped 131% to $11.2 billion last month from a year earlier.

The growth was aided by festive season spending, the company said in a filing with the BSE on Sunday night. The GMV does not include peer-to-peer payments. The number of its monthly transacting users grew more than 35% in October this year to 63 million, compared with 47 million the same month last year. GMV per MTU increased to $177 from $104.