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Payments processed on Infibeam fell 30% in post-lockdown March, 20% in April

Enterprise fintech company Infibeam Avenues' average daily payments processing volume fell by 30% after Mach 24, compared to the pre-lockdown period of the month. Prior to the lockdown, the company was processing payments at an annualised run rate of Rs 75,000 crore in March. Payments processing volume dipped by 20% in April, compared to March. Infibeam owns payments processing platforms including CCAvenue. With relaxations gradually kicking in in May, average daily payments processing value grew 32% with 14% growth in volume, compared to April. The company expects usage to return to normal soon and start growing, with further relaxations announced from June 2020. Infibeam's payments business recorded a volume of 147 million in Q4FY20, up 28% YoY. The company said it saw a record volume of 40 million in Q4FY20, up 39% YoY. Merchant addition on the company’s payments platform remained “unaffected even during the lockdown through end of March, April and May, which will potentially result in growth once the economy gradually re-opens”, it said. Bill payments on BBPS increased: Bill payments on its platforms amid the lockdowns however, saw an uptick. Monthly volume of bill payments made on NPCI’s Bharat BillPay (BBPS) increased from 15.8 million to 16.5 million in March and May respectively. It also said that number of billers on its platform increased from 182 in March to 216 in May. It isn’t clear what these numbers mean. Infibeam saw a “strong uptake in gas cylinder bookings” post the pandemic’s outbreak. 'No material impact' on platform businesses: The company said…

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