# SPT - Splitit Payments



## System (27 December 2018)

Splitit Payments is a technology company providing a cross-border credit card based instalment solution to businesses and retailers. The Company provides a payment service that can be fully integrated into a merchant's payment system. The Splitit payment platform was launched in 2016 and seeks to:

target worldwide retail markets with a focus on online credit card sales;
enable merchants to offer end-customers instalment based payment options without requiring customers to complete a credit application or qualify for a new credit line;
provide merchants with a tool to increase sales, increase average order values and reduce cart/checkout abandonment; and
provide customers with the ability to "buy now and pay later" by utilising their existing credit card, without incurring interest, late fees or other fees. 
It is anticipated that SPT will list on the ASX during February 2019.

https://www.splitit.com


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## greggles (29 January 2019)

Splitit Payments off to a good start on its first day on the ASX. Offer price was 20c and it is currently trading at 31.5c.

The share price was boosted by a Business Operations Update released this morning which showed substantial increases in new shoppers and merchant transactions.


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## Knobby22 (29 January 2019)

at first look its just an app really. Don't think much of it.
Any one disagree?


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## citac (29 January 2019)

Hey Knobby, 

It's has some huge upside, as millennials aren't are massive fans of Credit Cards, this is would be more popular with Gen X and Baby Boomers who make up +65% of the spending market(not to say millennials wouldn't adopt this product).

I'm in the millennial bracket and prefer Credit Card actually, I could imagine how useful the option to spilt a bigger payments up would be for young families or budgeting house holds. also the older age brackets are more aware at managing monthly payments compared to the millennials. 

One thing going for the business it has the credit card businesses on it's side, compared to isolating them as the competition.

Like most people I had to buy in the morning as I missed out on the offer.

Good luck


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## Smurf1976 (30 January 2019)

Knobby22 said:


> at first look its just an app really. Don't think much of it.
> Any one disagree?



I don't know much about this one in particular but there seems to be a boom underway with payment systems of this nature in general. There are differences between them but as a broad concept it seems to be an emerging thing.


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## Knobby22 (30 January 2019)

citac said:


> Hey Knobby,
> 
> It's has some huge upside, as millennials aren't are massive fans of Credit Cards, this is would be more popular with Gen X and Baby Boomers who make up +65% of the spending market(not to say millennials wouldn't adopt this product).
> 
> ...




I had a look at it more closely.
Basically you need a credit card to use it. You can use multiple credit cards.
The company gets money from the merchant. The credit card authorises the payment.
The company lets you split the payments up to 24 months with no interest. The credit card company sends the bill. I think if you miss a payment you go back to the credit cards onerous standards.
My question is who would use it? I would think only people with cashflow problems. Effectively another classic credit trap that people are trying to avoid with companies such as Afterpay. I could easily see someone running up multiple credit cards and getting in major trouble.
I can't see it taking off.


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## Knobby22 (30 January 2019)

citac said:


> Hey Knobby,
> 
> It's has some huge upside, as millennials aren't are massive fans of Credit Cards, this is would be more popular with Gen X and Baby Boomers who make up +65% of the spending market(not to say millennials wouldn't adopt this product).
> 
> ...



Wish I had bought some though, well done Citac.


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## citac (30 January 2019)

Thanks Knobby,

Good luck to all, luck is always involved in loss making businesses.


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## JTLP (31 January 2019)

Flying again today. Is this not just an Afterpay competitor?


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## citac (31 January 2019)

Hi JTLP,

Crazy movements in it's first couple days of trading something like a 45% swing today from top to bottom. I hope it is a huge competitor to afterpay, we will have to wait and see.


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## JTLP (1 February 2019)

citac said:


> Hi JTLP,
> 
> Crazy movements in it's first couple days of trading something like a 45% swing today from top to bottom. I hope it is a huge competitor to afterpay, we will have to wait and see.




Would like to understand the business in more detail. Does appear to be growing though.


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## bigdog (1 February 2019)

https://www.livewiremarkets.com/wires/is-splitit-the-next-afterpay

* Is Splitit the next Afterpay? *




Dean Fergie View the contributor's profile page
Cyan Investment Management

Splitit (ASX:SPT) has had an incredible debut on the ASX since its listing on the 29th January 2019, with the stock galloping from its 20c IPO price to an intraday day high of 74c before settling at 55c on the 31st January; an extraordinary *175% two-day gain*.

It’s been a profitable pathway for these interest-free consumer payment splitting companies, with Afterpay (ASX:APT) shareholders having enjoyed a 15-fold gain in only 2.5 years. So, is the early excitement about this new player justified? I'll discuss some similarities and differences between the two.

Arguably, the major factor differentiating the offerings is that Splitit customers must have a valid credit card (Mastercard or Visa) with an appropriate limit, to make a purchase using the Splitit system.

Critically Splitit *does not assume any of the credit risk*; this resides with the credit card companies. Depending on the merchant’s requirements, the Splitit payments are then charged to the credit card over the following 2 to 36 months.

Also, depending on the merchant agreement, each payment will be made to the merchant only at each monthly payment event. As such, Splitit is targeting *higher-end, higher-value *purchases; think jewellery, travel, homewares, sporting goods and high-fashion with an average value of around $1000.

In contrast, Afterpay made its market entry by targeting *lower-end apparel sales*. Even after moving up the value chain, the average sale is still only around $140. Afterpay allows customers with both bank accounts and credit cards to use their system.

It pays the merchant the total value of the goods upfront, thereby taking on the credit risk, but enforces a much shorter payment term of just 6 weeks. Partly because of the credit risk, Afterpay is able to charge a greater merchant fee of around 4%, versus the 1.5% fee Splitit charges.

For investors, the real concern/opportunity is the markedly *different life-cycle stage* of the two businesses. Afterpay in now an established, proven, profitable global business. Splitit has but 12 months of modest revenue generation. But, for that, investors are paying a fraction of the price of its successful competitor.

The table below details the broad financial comparisons that show, despite the huge market debut for SPT, the current valuation not wildly overdone.





However, the law of small numbers is important to remember. Even small market share gains by Splitit would make the business look significantly more attractive on a relative basis.

But until it becomes cash-flow positive (we estimate growth of about 6x their current annualized sales), there is certainly more risk to its business model.


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## citac (1 February 2019)

I do prefer the way its structured compared to Afterpay, and the audience it is targeting, also the international growth that could occur through credit cards. 

Reaching an additional x6 annualised sales isn't far fetched, however it is not proven and has a long way to go. 

it will have a slower adoption model because of the demographic, so that must be taken into account also.

I no longer hold, awaiting more news.


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## citac (4 February 2019)

With a market cap of 54million @ 20c from last week, Fast forward to today it traded 12million dollars worth of stock in one day?


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## JTLP (4 February 2019)

Thanks for the synopsis. Few things I’m considering:
- credit cards are reportedly declining?
- will laws differ for this compared to after pay RE: responsible lending?
- will merchants sign up as readily for this?

AFT is a sleek, well branded outfit. This needs to follow suit. 

DNH either.


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## Bris Vegas (5 February 2019)

People need to read the Terms of Service.

Splitit actually 'reserves' (deducts) the *full *amount from the buyers credit card up front. The *merchant* gets paid in installments.

https://www.splitit.com/legals/splitit-shopper-terms-conditions/united-states/

Current Installment Payments. If Buyer is paying by Installment, then Buyer authorizes Seller to hold an authorization against the Buyer’s card for the Purchase Price, adjusted each month, based on the payment Installments to date until the Purchase Price is paid in full to Seller.


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## Bris Vegas (5 February 2019)

Splitit HQ is just a co working space in Tel Aviv. 
32 HaArba’a Street Tel Aviv,  6473970

http://saronaspace.com/


Their US and UK offices are also co working spaces.


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## citac (5 February 2019)

To me that's a good thing, getting to use the benefits of your credit card limit, instead of out laying a bigger amount in one payment the purchaser still uses their limit, however its spilt up into more affordable and manageable pieces without additional costs?

The company is a start up i'd hope they are keeping costs as stream line as possible since they still running at a loss. Working co-op or shared spaces is becoming the norm for most starts ups.

What would you expect from a software that is designed to be used at the payment system between check out?


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## citac (5 February 2019)

JTLP said:


> Thanks for the synopsis. Few things I’m considering:
> - credit cards are reportedly declining?
> - will laws differ for this compared to after pay RE: responsible lending?
> - will merchants sign up as readily for this?
> ...




Australia has a credit problem, so I don't see in the immediate future a huge decline as credit cards enable flexibility, where as a payment system to your debit account instantly reduces available money.
https://www.finder.com.au/australias-personal-debt-reported-as-highest-in-the-world

The three countries above Australia have outstanding free education yet have high personal debt as the standard of living is so expensive.


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## luutzu (5 February 2019)

citac said:


> To me that's a good thing, getting to use the benefits of your credit card limit, instead of out laying a bigger amount in one payment the purchaser still uses their limit, however its spilt up into more affordable and manageable pieces without additional costs?
> 
> The company is a start up i'd hope they are keeping costs as stream line as possible since they still running at a loss. Working co-op or shared spaces is becoming the norm for most starts ups.
> 
> What would you expect from a software that is designed to be used at the payment system between check out?




Any idea why it's listed on the ASX and not in Israel or the UK? Or listed there also?

These payment, credit and splitting pays is just a fad. It's just a modern way to get people to spend on things they really couldn't afford.

That's all fine and good, as a business, if you got collateral. But to do it in an environment where OZ are among the most indebted people in the world, going through the most expensive property boom in the world, and are struggling to make ends meet... 

To give credit without collateral, making it quick and easy, might sound smart. It's just asking for trouble.

But then its share price is doing really well... just like those dotCom etc.


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## Knobby22 (5 February 2019)

luutzu said:


> Any idea why it's listed on the ASX and not in Israel or the UK? Or listed there also?
> 
> These payment, credit and splitting pays is just a fad. It's just a modern way to get people to spend on things they really couldn't afford.
> 
> ...



I'm very suspicious of this company as explained earlier.
It all seems to me a pump and dump riding the coat tails of Afterpay. Already Westpac has pretty much done the same thing as after all it really is just an app on a credit card. It has no future but the people who floated it will be making a lot of money. I don't even believe the users are real. When I first looked at this company a few weeks before they floated, the website wasn't even operating properly. Even now they only have, last time I looked, 8 merchants using it, and how do we know they aren't tied in to this float?


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## citac (5 February 2019)

luutzu said:


> Any idea why it's listed on the ASX and not in Israel or the UK? Or listed there also?
> 
> These payment, credit and splitting pays is just a fad. It's just a modern way to get people to spend on things they really couldn't afford.
> 
> ...




you can own shares in a company with long term profit guidance but any economic down fall can bring it's share price down to the level of a start up too.


Knobby22 said:


> I'm very suspicious of this company as explained earlier.
> It all seems to me a pump and dump riding the coat tails of Afterpay. Already Westpac has pretty much done the same thing as after all it really is just an app on a credit card. It has no future but the people who floated it will be making a lot of money. I don't even believe the users are real. When I first looked at this company a few weeks before they floated, the website wasn't even operating properly. Even now they only have i last time I looked 8 merchants using it and how do we know they aren't tied in to this float?




https://www.afr.com/street-talk/ipo-litmus-test-splitit-locks-in-jan-29-listing-date-20190122-h1abpd
Point of sale payments business Splitit has conditional approval to hit the ASX-boards next week, making it the first new listing of 2019.

A number of funds are understood to have tipped into the $12 million IPO, perhaps pulled in by former Vocus Communications' founder James Spenceley as a key backer and ex-National Australia Bank head of institutional Spiro Pappas' role as chairman.

See Pappas, as the story goes, headed the team at NAB that onboarded Afterpay which has been a roaring success for early investors and is now worth more than $3.5 billion


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## Knobby22 (5 February 2019)

citac said:


> you can own shares in a company with long term profit guidance but any economic down fall can bring it's share price down to the level of a start up too.
> 
> 
> https://www.afr.com/street-talk/ipo-litmus-test-splitit-locks-in-jan-29-listing-date-20190122-h1abpd
> ...




So they put in 12 million to get it to float stage and got 54 million back. Smart.

I had a look at a couple of the merchants, a matress sales company based in London, a glasses seller with US in its name but looking suspiciously like it only exists here (found a link, warehouse may be in Illinois). Nothing major.
The high end speaker company looks real. very specialised. The re-usable clothing company also seems real and is very smartly marketed and appears to be a very expensive way to buy out of date clothes.

There is a big payment help section for the speaker company. No mention of splitit.  https://www.devialet.com/en-au/shopping-help/


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## citac (5 February 2019)

The stock must be doomed then, ill keep watching it though, to see if it grows organically or is a pump and dump as you say


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## luutzu (6 February 2019)

Knobby22 said:


> I'm very suspicious of this company as explained earlier.
> It all seems to me a pump and dump riding the coat tails of Afterpay. Already Westpac has pretty much done the same thing as after all it really is just an app on a credit card. It has no future but the people who floated it will be making a lot of money. I don't even believe the users are real. When I first looked at this company a few weeks before they floated, the website wasn't even operating properly. Even now they only have, last time I looked, 8 merchants using it, and how do we know they aren't tied in to this float?




That'd be messed up. I wouldn't be looking into it but yea, by what you're saying it could be one of those floating on the latest craze.

Much like those "Electronics" companies Peter Lynch talked about, or the "dot com".


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## luutzu (6 February 2019)

citac said:


> you can own shares in a company with long term profit guidance but any economic down fall can bring it's share price down to the level of a start up too.
> 
> 
> https://www.afr.com/street-talk/ipo-litmus-test-splitit-locks-in-jan-29-listing-date-20190122-h1abpd
> ...




Hard for established company to go broke if its share price just collapsed though.

Unprofitable start-ups tend to get flushed in a downturn because... well, their operations aren't bringing in the cash and no investor is going to give them any.

I, probably like most other Aussies, hang onto BHP and RIO after the mining collapse. We've done pretty well out of it... and the uptick is, I believe, just about to pick up again.

I mean it's nice if we can get in early on any craze and fad. Just make sure we're smart, or lucky, enough to know when to get out.


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## citac (6 February 2019)

Thanks Luutzu, I appreciate your concern about the company as a functioning business, like I have said before its a start up and it has potential to be a fully functioning long term business, however it needs to prove it. 

This isn't the RIO or BHP section, we are talking about software and point of sale, not smashing the earth surfaces in search of minerals. 

I hope the uptick in your mining stocks serves you well.


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## Knobby22 (7 February 2019)

Another big jump in SPT.
Just goes to show, fundamentals are long term, sentiment is short term. Go with sentiment.
These companies are hot at present. Should have bought, it's like the lithium thing and the cryptocurrency thing.


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## citac (7 February 2019)

I am very surprised how high the SP is able to climb each day. With new capital willing to pay 2,3,4 and 5 times the listing price within 7-10 working days without blinking an eye lid. 

You would be expecting timely and purposely effective news announcements to keep the stock rolling forward without financials.

Could be sold down in a hurry with so much profit to be made.


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## citac (19 February 2019)

Waiting for the decline, anyone else watching this Stock?


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## greggles (4 March 2019)

citac said:


> Waiting for the decline, anyone else watching this Stock?




I first noticed it last week but today the share price has broken out on good volume and is currently up 23.1% to $1.12.

No news as a catalyst today so I wonder if there is some around the corner?


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## Smurf1976 (5 March 2019)

citac said:


> Waiting for the decline, anyone else watching this Stock?



I'm just watching this one. It's down a few % today but that's not surprising after yesterday's move.


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## greggles (6 March 2019)

SPT making gains again today and currently trading at $1.20, up 15.9%. I wonder if it's rising too far too fast. This Afterpay/Zip Pay/Splitit instant credit installment payment niche seems a little bloated at the moment.

The critical question is whether or not the revenue is there. Personally, I've never used any of these services but I'm a middle-aged old fart so what do I know?


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## Smurf1976 (6 March 2019)

greggles said:


> The critical question is whether or not the revenue is there. Personally, I've never used any of these services but I'm a middle-aged old fart so what do I know?



They've become entrenched very quickly.

Bought something online yesterday for less than $25. Or it said I could split that into 4 interest free payments with After Pay.

Now, if someone needs to spread the cost of a $25 purchase then that's a worry in terms of credit quality most certainly. It does make for lots of business however.


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## bigdog (8 March 2019)

Motley Fool reports
https://www.fool.com.au/2019/03/06/...e-has-rocketed-490-higher-in-just-five-weeks/

*The Splitit share price has rocketed 490% higher in just five weeks*
James Mickleboro | March 6, 2019

The *Splitit Ltd * (ASX: SPT) share price has continued its remarkable run on Wednesday and surged to a new all-time high.

At the time of writing the payment company’s shares are 14% higher at $1.18. This latest gain means the Splitit share price has risen an incredible 490% since listing on the ASX at 20 cents per share on January 29.

The *Afterpay Touch Group Ltd* (ASX: APT) and *Zip Co Ltd* (ASX: Z1P) rival now has a market capitalisation of approximately $320 million.

*Why has the Splitit share price rocketed higher?*
With no news out of the company, I suspect investors have been buying Spiltit’s shares on the belief that it could be the next Afterpay Touch.

Splitit is an Israel-headquartered payments company providing a cross-border credit card-based instalment solution to businesses and merchants.

Its service allows consumers to pay for a product using their existing credit cards but divide the total purchase cost across as many interest-free monthly payments as they feel is necessary, up to a limit of 36 months.

Debit cards can also be used, but consumers are limited to $400 of credit and must repay the balance through a maximum of three interest-free monthly payments.

Another service the company offers which separates it from the competition is a _try now, pay later_ service. Merchants can allow shoppers to try out items for up to 90 days before any payment is charged to their credit card.

The item cost is put on hold on the shopper’s credit card to protect the merchant, ensuring that payment is made in the event that the shopper does not actively finalise the purchase or return the item. If the shopper decides to return the item, the hold is released, and the shopper is not charged any interest or fees.

*What now?*
Last week Splitit released its preliminary final report which revealed full year revenue of US$790,000 and a loss after tax of $4.4 million. Clearly it is still early days for the company, but it could be worth keeping a close eye on its progress in the coming years.


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## peter2 (11 March 2019)

Wow, short term traders are having some fun with this stock since listing two months ago.






edit: Unfortunately I'm not one of them.


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## kid hustlr (11 March 2019)

It's pretty frantic Pete,

back to square on the day!


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## peter2 (11 March 2019)

Yikes, that was a serious intraday selloff after the speeding ticket. 
This is a 5m chart for Mon 11/03/19. Response to the ASX "speeding ticket" was released at 15:04.


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## citac (15 March 2019)

Day traders having a ball over the last 45 days, I don't have the guts for it yet Peter2.

Is anyone else looking at names involved in this business, big names floating around the stock. 

I'm trying to figure out if its a free carry and hold or still worth accumulating stock to be honest. The movements are huge and the volume is dropping off after it was played with really bad for a couple days.

-I personally like the way the company is positioned, in between the merchant and the customer.

-It doesn't punish the retailer or the customer and provides a quick and easy payment service which in todays marketing is a fundamental. Customers want ease of use and want it to be safe and secure.

-Credit Cards aren't going anywhere they provide flexibility.

-Customers use there existing Credit card limits to purchase goods however they get to select the best payment method that suits them while not paying interest. I would choose this any day verses my direct bank account. 

-Small business will be able to use this in the same effect, most SMB have a 20k to 40k limit on credit cards, imagine not having to pay interest for a extended period of time without having to apply for new terms, you just select it at payout, quick and simple. 

It has huge growth potential, however as the article says on the AFR, its unproven and needs to provide the numbers in the future.

Retail spending online is a ever growing sector and I expect SPT to be targeting the online market more than instore.


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## greggles (29 April 2019)

After declining from $2 to 90c in the last six weeks, SPT bounced back today following the release of its most recent Quarterly Report which detailed a $2.5 million loss, leaving them with just $6.5 million in cash at the end of the quarter.

Revenue was a modest $322,000 but it is clear from the "Highlights" part of the announcement that they are counting on continued growth to stem losses and move towards profitability. My concern with these kind of losses is that they are likely to run out of cash towards the end of 2019 and will need to raise more capital... unless that turnaround happens in the next couple of quarters.

Estimated cash outflows for the current quarter are $1.6 million.

I'm a little underwhelmed by the financial results, but the market seemed to expect worse as SPT is currently up 25.41% to $1.16 so far today.


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## Knobby22 (29 April 2019)

Terrible set of numbers.
They will need a raising soon,
The merchant list, not one big name and they used some of the names previously.
I also love the fact that none of the directors own any shares.


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## Ann (5 June 2019)

Up 8.22% today...

*Splitit joins EFTPay to offer instalment payment platform in Hong Kong*

Consumer finance provider Splitit Payments (ASX: SPT) has partnered up with digital payments business EFT Payments Asia (EFTPay) to offer Splitit’s monthly instalment payment solution to merchants in Hong Kong and Macau.

Splitit, which listed on the ASX at the start of the year following a heavily oversubscribed IPO  raising $12 million, said the new partnership would enable the company to expand its presence in the Asia Pacific region.

EFTPay is one of the key partners of Alipay in Hong Kong, providing digital wallet services to merchants including hotel chain Marriott, fashion retailers UGG, Kate Spade and Sunglass Hut and cosmetics brand Estee Lauder.

Some of these services include merchant acquiring, point-of-sale system integration, payment gateway provision, a service counter app and technical support. More...


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## Knobby22 (28 June 2019)

Down to 68c now.
As I predicted,had a raising.


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## peter2 (18 July 2019)

All the hype has left this stock and price has tumbled. 
Only 48 shareholders decided to pay 0.80 in the recent SPP when the price was lower in the market. 
It had to happen with so many BNPL options available.


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## barney (22 July 2019)

Not a happy chart at the moment


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## greggles (22 July 2019)

barney said:


> Not a happy chart at the moment




It's moving up a little today on the back of this morning's announcement that SPT has entered into a three-year partnership agreement with GHL ePayments Sdn Bhd, part of leading payment service provider GHL Systems Berhad, to offer Splitit's instalment solution to more than 2,000 online merchants in Malaysia, Thailand, Indonesia and the Philippines.

Still, they need to stem the cash burn and operating losses before they are going to be taken seriously. The last quarterly was a huge disappointment with revenue of $322,000 and a loss of $2.54 million.


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## barney (22 July 2019)

greggles said:


> It's moving up a little today on the back of this morning's announcement




Today's Volume was also positive …… this is the second move off the lows in 4 days …… The depth of the retrace (assuming there will be one) on a second move higher is always a good lead to where a stock might be heading in the short term …. watchlist


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## barney (23 July 2019)

Up another 10% today so far on reasonable Volume ….. A few days can make the world of difference at the Spec end.


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## greggles (30 August 2019)

SPT recovering a little today, bouncing off a bottom at 40c that's been forming all week, following the release of their FY 2019 financial results.

After a closer look at those results I don't see much of a reason for having an increase in confidence in the viability of their business. Here's a screenshot of the summary:






Yes, revenue is up compared to the same period last year but operating expenses have blown out and the net loss has deepened. Last year they only spent $1.63 million to make $127,327. This year they spent $4.79 million to make $721,381.

I don't see how this is a sustainable business on the current numbers. They need to grow revenue faster while cutting costs and that doesn't appear to be happening.


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## barney (30 August 2019)

greggles said:


> After a closer look at those results I don't see much of a reason for having an increase in confidence in the viability of their business. Here's a screenshot of the summary:
> 
> I don't see how this is a sustainable business on the current numbers.




I thought the same thing.  The IPO proceeds ($12 million) and the follow up Cap Raise ($30 million) seem to have distorted the fact they are burning cash … Probably go up another 30% next week now


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## bigdog (30 August 2019)

Not looking VG from a 12 month high of $2.00 on March 11 2019


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## barney (5 September 2019)

bigdog said:


> Not looking VG from a 12 month high of $2.00 on March 11 2019




Murphey's Law of course …. As soon as we start ragging a Stock out it rallies

Currently up another 12.5% today to 58.5 cents.  Probably no Sellers left


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## Knobby22 (30 October 2019)

Just had another look - Wow - all these research and development expenses, way more than the revenues, I wonder who's getting those.
0.7mil revenue, 4.7mil outgoings.
Done well in September....Run rabbit run.
https://www.bing.com/videos/search?q=Flanagan+and+Allen+Run,+Rabbit,+Run!&docid=608054591018567884&mid=E832A27D37675520A42AE832A27D37675520A42A&view=detail&FORM=VRAASM


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## bigdog (31 January 2020)

ASX announcement today 31/01/2020 8:32:25 AM *Quarterly Report (Appendix 4C)* (uploaded)

Currently share price down 8.76% after reported that revenue and active customer numbers actually fell quarter-on-quarter.

The stock, which rocketed 800 per cent in the six weeks following its ASX debut January 2019 and dropped as much as 18 per cent to 56 cents on Friday morning after the release of its quarterly report to the ASX.

SPT reported record merchant sales volume generated on its platform, but the company’s revenue fell 7% to $US433,000 ($645,000).

Its active shoppers on the platform fell 6% to 118,000 for the quarter ending December 31.






573


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## Knobby22 (31 January 2020)

bigdog said:


> ASX announcement today 31/01/2020 8:32:25 AM *Quarterly Report (Appendix 4C)* (uploaded)
> 
> Currently share price down 8.76% after reported that revenue and active customer numbers actually fell quarter-on-quarter.
> 
> ...




If the directors were honest, they would just admit the company has no future, close it down and give the remaining cash back to shareholders.


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## Movendi (18 June 2020)

Up 108% today. New mastercard partnership.
Possibly now something more viable long term.


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## Dona Ferentes (24 June 2020)

Movendi said:


> Up 108% today. New mastercard partnership.
> Possibly now something more viable long term.



Splitit is different to Afterpay (and its other BNPL peers), because, in effect, those companies lend the customers the full amount of a purchase at the checkout, and then allow that purchase to be paid off in instalments. Instead, Splitit allows customers to pay with an existing credit or debit card, holding the full amount on their card and taking an instalment each month. The customer can apportion the total cost across as many interest-free payments as they like; the Splitit system charges their credit or debit card every month until their payment is completed.

Splitit does not finance the consumer into the purchase, meaning it does not make short-term consumer loans. This means that worries about credit risk and bad-and-doubtful-debt build-up – concerns that have swirled around the other BNPL stocks – are not business risks for Splitit. Thus, it has a lower-risk business model than the others.

It is the same value proposition as Afterpay and Zip Co, but use of Splitit’s technology requires no application, registration or credit check; thus, Splitit does not need to monitor and/or prevent payment defaults or bad debt-related risks, and is not subject to regulatory oversight or licensing requirements associated with providing new credit.
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Splitit’s source of revenue is transaction fees, paid by the retailer when a customer uses the Splitit payment option online or in the physical store: Splitit charges an average rate of 3% of each transaction. There are no late fees. This means that the total value of transactions and number of customers using the platform are the main revenue drivers for Splitit.

Major card issuers appear to be very happy to work with SPT, announcing a partnership with Visa in March, to help accelerate the distribution of instalment payments for merchants, and to “explore further opportunities relating to new product development.” 

And recently, helping the S/P surge, signing of a multi-year agreement – with an initial five-year term – with Mastercard, to accelerate the adoption of Splitit’s instalment solution around the world. Splitit will leverage Mastercard’s network of partners to extend and scale instalment functionality to consumers and merchants. Splitit will integrate its instalment solution with Mastercard’s suite of technology as a network partner to enable merchants to deliver seamless and secure consumer experiences at checkout, both in store and online_.


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## citac (17 September 2020)

Been watching spiltit from day one, it still has potential however i am only seeing partnership after partnership without an end to capital raising in sight.


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## hhka (5 January 2021)

*Market predictions*
WorldPay, a subsidiary of financial services giant FIS, released its Global Payments Report, last month, which predicts the BNPL boom to continue. Although the report does not appear to account for the expected economic downturn as a result of COVID-19.

According to the report, the number of BNPL users will pass 4 million by 2023 when Australia’s ecommerce market will be worth US$47 billion. The share of BNPL payments of ecommerce transactions will jump more than 166 per cent in that time.

I have attention on SPT, customer numbers and transaction volumes are increasing rapidly.  Splitit reported 362,000 total shoppers in the last September quarter, with 186,000 active shoppers. This was a 48% increase year on year. Over the same period transaction volumes increased 214% to US70.9 million.

IMO, SPT has a lot of potential to grow in period 2021-2023. The SP will be on par with Z1P soon.


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