Fintech firm Payworld expects to double the gross transaction value on its platform to `22,000 crore in a year on account of foray into new segments like data-based credit services, a senior company official said.
The company claims to have gross transaction value (GTV) of around `11,000 crore at present. “Our annualized GTV run rate is around `11,000 crore. We expect to double this in the next 12 months to around `22,000 crore,” Payworld CEO Amit Tyagi told PTI.
Payworld provides a platform to retailers for services like selling train tickets, Aadhaar-enabled payment services, mutual funds, insurance, FASTags, among others.
The company is now looking to start providing credit based on transaction data of merchants as well as assisted e-commerce for rural areas, Tyagi said. “We started with payments, money transfer, Aadhaar-enabled payments services etc. When your payments needs are gradually met, the next stage in your financial journey is you want to get some loans, grow your business etc.
“It’s a natural evolution that our customers are telling us to take. We have done a few pilots already and are in the process of rolling out it with more partners in the next month,” Tyagi said.