Splitit Payments
By Lucy Battersby
Shares in Splitit Payments are up 68 per cent over the past three sessions, rising from 60¢ at Friday's close to $1.18 in early trading this morning. Meanwhile, rival Afterpay Touch is down 4.8 per cent this morning to $34.79.
On Monday morning the company announced it had signed a deal with US platform Shopify to make its buy-now-pay-later (BNPL) product available to all 800,000 merchants on its platform. And signed a deal with Divido, which has about 1,000 merchants. It has also expanded BNPL to businesses to enable them to pay invoices by installment.
"The momentum we have seen in just the first eigh months has been tremendous and the team is executing well,'' newly appointed chief executive Brad Paterson told the market earlier this week.
However, the recent rise is still a long way from a high of $2 reached in March. Since then it reported weaker than expected numbers for the June quarter. The company's annual general meeting is scheduled for 30 October, when shareholders will be asked to remove the performance hurdles on four million share rights for founder and recently departed chief executive Gil Don. Investors will be asked to approve a $US110,000 ($163,000) cash bonus for him.
Add to My Watchlist
What is My Watchlist?