"Even more impressive if you look at the half-year trends: SH2020: 36.7% MH2021: 40.3% SH2021: 42.8% MH2022: 52.7%"
In a recent interview with Marty, he brought up margins and TTV. As TTV goes, up, they expect to negotiate better rates with the switching partner. See this link, start around 51:30: I expect this trend to continue as TTV goes up even further.
As far as negotiating goes, these guys use Cuscal: https://www.cuscalpayments.com.au/more/switching/ Note that Cuscal services/takes payments from 50,000 POS devices in Aus. That means SMP are approximately 20% of their POS volume.
They also do ATMs, etc:
SMP Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
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