Splitit Payments’ Sales Volume Up 133%, Reports Revenue of US$3.1 million

ASX-listed global payment solutions provider, Splitit Payments Limited (ASX:SPT) reported its financial results for the half-year (ended 30 June 2020) and provided its operational performance update.

  • During FY20, Splitit witnessed record growth with Merchant Sales Volume of nearly US$89.1 million, which increased by 133% in H1 FY20.
  • Gross Revenue (Non-GAAP) reported at US$3.1 million, up by 244% YoY.
  • The Company signed 116 new merchants post period, including Frederique Constant, Echelon Fitness, Specialized, The Hut Group, and 77 Diamonds.
  • During the period, SPT signed key partnerships with Stripe, Visa and Mastercard in H1 FY20 to hasten innovation and merchant acceptance.

Splitit anticipates rapid growth to continue in H2 FY20 and beyond.

On 31 August 2020, SPL share price was reported at A$1.890 up by 3.279% at AEST 12:37 PM.

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