Splitit Payments (ASX:SPT) see record growth in Q2 FY20

Company News

by Rachael Jones

Installment payment company Splitit Payments (ASX:SPT) has posted record Merchant Sales Volume up 176 per cent on Q1 FY20 and up 260 per cent over Q2 FY19, due to the addition of new large merchants.

The Company’s two largest markets continued their upward trajectory, with North America up 261 per cent and Europe up 240 per cent.

This resulted in record revenue growth, with total revenue of $2.4 million in Q2 surpassing total revenue from the whole of FY19, and up 460 per cent compared to Q2 FY19.

Shares in Splitit Payments (ASX:SPT) are trading 13.92 per cent higher at $1.55.

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.