Payworld to enter data-based credit services biz; aims to double GTV to `22K cr in yr

| | New Delhi
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Payworld to enter data-based credit services biz; aims to double GTV to `22K cr in yr

Monday, 14 November 2022 | PTI | New Delhi

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.

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