Impressive numbers and commentary from SPT earlier this week. A...

Impressive numbers and commentary from SPT earlier this week. A quick recap:

Merchant Sales Volume (MSV) grew rapidly to US$65.4M, up 260% on Q2 FY19, up 176% on Q1 FY20

○ North America up 261% and Europe up 240% on Q2 FY19

• ● Gross Revenue (Non GAAP) surged to US$2.4M, up 460% on Q2 FY19, up 246% on Q1 FY20

• ● 1K Total Merchants, up 104% on Q2 FY19

• ● 309K Total Unique Shoppers, up 85% on Q2 FY19

• ● Average Order Value (AOV) of US$893, up 44% on Q2 FY19

• ● Large new merchants (live and signed) include Purple, Daily Sale, Quiet Kat, Dreamcloud, Bedmart, Scorptec, Tatami Fightwear, Sofa Club, Alpina Watches

• ● New partnerships with Mastercard, Finance for Group, Blue Snap

Now remember SPT offers a frictionless, API driven solution at checkout enabling existing MC/V cardholders to spread purchase over several/ many months.

No additional credit is generated. Instead the total spend is earmarked against the cardholders limit.

API integration means faster merchant adoption/ implementation is dramatically reduced. Worth rereading again the section on the importance of Strategic Partnerships (here in full):

Integration with Stripe Connect is now complete, with beta testing of new, accelerated, merchant onboarding underway.As this functionality is deployed more broadly later in Q3, this will seenew merchant acceptance further accelerateas the Company progresses towards its goal of enabling merchants to self-onboard in minutes.As the integration expands,it will also improve Splitit’sfunded model process by automating acceptance and movement of money for all funded transactions,and significantly improving the merchant experienceincluding multi-currency supportand improved reporting tools.

In June, Splitit announced an initial five year agreement with Mastercard to accelerate the adoption of its instalment solution by leveraging Mastercard’s network of global partners.Initially launching pilots across three markets before rolling out globally,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. Mastercard and Splitit are also jointly developing other instalment and related products.

During the period, Splitit launched its integration withBlue Snap,the payment platform for B2B and B2C businesses. Blue Snap, which supports online and mobile sales, marketplaces, subscriptions and invoice payments,allows Splitit to reach a wide range of fast growing eCommerce merchantsand offer them instalment payments directly on their platform. The Company also further enhanced its integration with Magento, as part of the partnership announced in Q1.

“Progressing our strategic partnerships is a pivotal part of our growth strategy" hence MC/V/ Magento/ Stripe tie ups. “These partnerships provide access to multiple merchants and payment networks through our globally scalable business modeland extend our product offering to enable asuperiorcustomerexperience. Over the coming months we will continue to focus on enhancing the experience for both merchants and consumers, while driving further industry innovation with our partners.”DIscover, Amex anyone?

Now take a look at some of SPT’s merchants and consider the uniqueness of SPT’s offering the price of some of the goods & services being offered. Links provided for convenience (all accessible from SPT’s webite. Note the contrast and convenience of SPT vs Affirm in the first example.

VERY exciting journey ahead methinks.

Barely $550M MC.
And a quick check on recent ASX200/300 changes, suggests SPT will be included soon enough
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