Paytm's GMV up 131% to $11.2 billion in Oct as festive-time spends rise

One97 Communications, the parent company of fintech firm Paytm, reported that its gross merchandise value (GMV) for the month of October touched Rs 832 billion (around $11.2 billion), a growth of 131 per cent on a year-on-year (y-o-y) basis. The company was listed on the Indian bourses last week.

The company, in a disclosure to the exchanges, said that the growth was driven by the festive season and an increase in number of merchants and consumers, adoption of new products, transactions for both online and in-store merchants, and in deployed devices.

For the quarter ended September 31, 2021, the GMV grew 107