Splitit Payments (ASX:SPT) see strong growth throughout May

Company News

by Rachael Jones

Splitit Payments (ASX:SPT) record monthly Merchant Sales Volume (MSV) of US$25.8 million in May, up 321 per cent compared to May 2019 and up 39 per cent compared to April 2020.

The Company’s strong performance is the result of new large merchants being onboarded in 2020, consumers increasingly adopting Splitit’s solution to better manage their cash flow, and the growing shift to eCommerce.

Europe was up 548 per cent in May 2020 compared to May 2019, supported by the Company’s strong partnerships with global eCommerce retailers such as Purple, Nectar Sleep and Canyon Bicycles.

Total Unique Shoppers also grew significantly to 290K, with 45K new unique shoppers added in April and May.

Shares in Splitit Payments (ASX:SPT) are trading 26.9 per cent higher at $0.85.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.