Ann: Quarterly Report (Appendix 4C), page-80

the active merchants were mentioned for the first time and you can see it is less than total merchants. They say it’s because they are trying to focus on more specific merchants who have higher order value. As for active users it’s because a person only made one purchase that year because that’s all they needed to buy with splitit or it could be they don’t want to use splitit again which doesn’t match the high customer satisfaction report they issued last year. So it’s probability that the customer only needed to make one purchase that year. As more merchants offer splitit the active user should increase as that person may buy things from two shops.