NOV is a major shareholder of BNPL SplitPay. Forgot they were...

NOV is a major shareholder of BNPL SplitPay. Forgot they were invested here. Could be a big payday for NOV when the majors decide to acquire them.

SplitPay is a privately held company founded in 2018 focusing on the immature BNPL market in Europe where existing operators AfterPay (ASX: APT), Zip (ASX: Z1P) and LayBuy (ASX: LBY) are still in the market entry phase. Subsequently, many of SplitPay merchant customers offer multiple BNPL payment options including those aforementioned as a low-cost means to cover the market of retail customers.

To date, SplitPay has raised more than $2 million from investors and previously actioned a similar services-for-equity deal with digital payments company Novatti Group (ASX: NOV) which is a major shareholder.

As an unlisted company however, SplitPay does not disclose its merchant numbers or total transaction values.

From November 2020 announcement:

Novatti is looking to use this new partnership and support to drive value and validation. A number of well-known brands already use the company’s solutions, including Telstra Corporation Ltd (ASX: TLS) and Hutchison Telecommunications (Aus) Ltd (ASX: HTA). Additionally, fintech brands such as Digipay, EziPin, CrediExpress, Splitpay, Moni Send and Transfer Bridge have partnered with Novatti for similar solutions.