Z1P - The Rise To $15.00, page-706

Could be seasonal, but more likely it could be due to the timing of the quarter as well. The previous couple of quarters had extraordinarily high growth due to COVID19. The September quarter is at the tail end of the crisis and government support and is also the quarter before the shopping period.

I dont see it as too much of an issue, although the market is certainly maturing. But given the SP went from $1.7 to $6 largely of the back of quadpay acquisition, I think a slow down in their growth rate would be much more significant. The market will be closely watching the Pay-in-4 development over the next 2-3 quarters