PayTM has said that the loan and platform business has reached the annual running rate of 24,000 CRORE RS in June. The company also reached the highest number of monthly transaction users (MTU) – 76 million in its super application – for a month.

The company said the consumer involvement in the APP was in the highest with a monthly user (MTU) of 74.8 million for the quarter ended in June. This is a 49 percent leap year-to-year (yoy). “The super PayTM application continues to see high consumer involvement for the company’s comprehensive payment offer. For June alone, MTU was established at 75.9 million, “he added.

Furthermore, the loan business has also increased a total of 8.5 million loan disbursements during the quarter ended in June, showing a growth of 492 percent. The company’s total aggregate loan value now is RS 5,554 Crore for the June quarter, growth of 779 percent yoy.

The fast growth of our loan products gives us attractive collections of benefits. We also see an increase in the average ticket size due to an increase in private loan business, “PayTM said in its release.

In terms of trader payment volume for the June quarter, PayTM registered an increase of 101 percent yoy in RS 2.96 Lakh Crore.

In offline payments, the company said they strengthen the leadership position with around 3.8 million devices employed in total. “Adoption of strong devices also has a correlation with the increase in traders that meet the requirements for loans from our platform,” the company said.