Only a few die hards on here still believe that splitit will...

Only a few die hards on here still believe that splitit will form the backbone of the Visa and MC offerings in 2022.

Most think capturing more merchants is the way forward. I posted a little while ago that this was not looking good but was shouted down by a few rusted on holders claiming I had an agenda and miss quoting my post so I left it.

Here are the facts taken from the last 4 quarterly reports, if anyone doubts the figures then they are on HC for all to see and check (roundings dont count).

Q4 FY20

Revenue$2.9m Number of Merchants 1.8k Avg Rev per merchant $1610

Q1FY21

Revenue$2.7m Number of Merchants 2.2k Avg Rev per merchant $1227

Q2 FY21

Revenue$2.8m Number of Merchants 2.8k Avg Rev per merchant $1000

Q3 FY21

Revenue$2.6m Number of Merchants 3.3k Avg Rev per merchant $787

Last qtr the average merchant generated 60 dollars a week in revenue!!!!!

This clearly shows the revenue per merchant has more than halved over the last 12 months so they have significantly increased merchants but that has not resulted in increased revenue.

Why do I think this has happened , personally for 2 reasons, the market place is getting crowded, often a merchant will have a whole raft of payment options with splitit rarely featured prominently.

Second they have not got the name out there, hardly anyone has heard of splitit, ask them if they have heard of afterpay or zip and only the walking stick brigade will say no.

I post because I have an interest in spt, I have not lost money or have anything to get over or move on to. This is a bulletin board, a fact not understood by some.

I am surprised they have done so badly given a bright start but I think they will soldier on but need something to spark a recovery and John ringing his retail mates is not it IMO

Good luck