Splitit Payments (ASX:SPT) sees record sales volume on Black Friday

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Splitit Payments (ASX:SPT) sees record sales volume on Black Friday

Splitit Payments, ASX:SPT, Black Friday 2021, Record sales, Splitit, Online Shopping
Image source: © Rawpixelimages | Megapixl.com

Highlights

  • Splitit Payments reports record merchant sales volumes (MSV) due to holiday shopping.
  • ASX:SPT has recorded AU$15 million worth MSV, thanks to Black Friday and Cyber Monday.
  • Splitit is forecasting a successful quarter with Christmas week remaining still.

ASX listed payments solutions firm, Splitit Payments Limited (ASX:SPT) has reported record quarterly MSV (monthly sales volume), all thanks to the Black Friday weekend. SPT is still left with one month in Q4-2021 and is at its record MSV performance.

Splitit is an Israel based credit card instalment solutions business, listed on ASX in January, 2019.

What caused record MSV for Splitit?

  • SPT has recorded AU$15 million worth of MSV from Black Friday through to Cyber Monday, the so-called shopping bonanza weekend. The average order value with Splitit remained over AU$1,000.

Image Source: ©2021 Kalkine Media, Data Source: SPT, ASX release

  • The strong MSV growth was witnessed across all geographic markets, in North America, Europe and Asia Pacific (APAC) region.
  • However, APAC region alone provided significant contribution to the FY21’s fourth-quarter growth till date, with AU$33 million worth of MSV.
  • APAC growth alone has risen by over a whopping 836% from same time last year and 451% from last quarter, with maximum sales push coming from Japan.
  • However, for SPT, North America and UK continue remain priority markets for future growth.

Meanwhile on ASX today, SPT shares closed trade at AU$0.260 per share.

Bottom line-

Splitit seems to have successfully captured seasonal events and sales opportunities across the business, translating into strong fundamentals. With Christmas remaining the company is pegging in additional growth in ongoing quarter.

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