CEO says 2000 merchants use the SAP product. So what ???
What he needs to say, is the first 10, 20, 200 merchants are going live..
The problem with splitit, and i mean major problem, is they dont (by complete intention and company design) own the end-user relationship. They dont talk to the wall mart's, best buy, harvey noman etc. they expect these partnerships to do the heavy lifting for them.
But as the last 4-7 years have shown - merchants dont like (for whatever reason) Splitit's products. It comes in at prob 8th on their BNPL consideration.
Broken company if they cant get the end user - merchants - to use the product. Which has, and always will be the way.
For anyone who wants to disagree - just look at the history of the firm, since the payitsimple days. Not ever been widely used - 4 CEO's later. Sorry to say folks.. this ships days are numbered.
SPT Price at posting:
13.5¢ Sentiment: Sell Disclosure: Not Held