unfortunately Klarna has done a great job getting itself out...

unfortunately Klarna has done a great job getting itself out there

i like everything with SPT and it should be the favourite for large purchases - I have to ask, why is Klarna beating us here?
consequently why is our SP suffering.

based on SPT management team response (solid confidence all is fine) as an investor I need to consider and reflect on weaknesses for a moment.. not to bag Splitit, but to see how aware Splitit is of the weakeness

from my personal research our 3 top weaknesses are:

1) We don't spend money on marketting at all now; in fact it's considered a plus by Splitit management team (confidence is in our partnered account management approach); this is considered a strength and less cash burn. This is cool in theory, but let's see if it translates into .msv and merchant adoption; I don't have a marketing background but it seems to me SPT confidence is high here - is it justified? do too luxury merchants know Splitit exists. I'm still not convinced, I think they need to up the stakes and see Klarna as a real threat and respond accordingly .. maybe they are, let's see

2) there is a large difference between our pros and cons on survey and review result websites. the number one con remains end consumers don't intuitively get it. silly users who don't know how to use credit in life keep complaining that they pay everything upfront and Splitit has to constantly explain the fundamental model. they think some how Splitit is like legacy BNPL and they will get more credit on their credit card. to me this weakness isn't too bad as if your too silly to get it, chances are your credit card is always maxed and you aren't the type of customer we really want and something who should be grabbing high end / luxury items.. yet still the bad review remain.

3) the recent failure of the tech is now appearing as Splitit tech maybe unstable. I don't know what went on, but Splitit wants to be a rock solid it provider. we can't have failure of tech, it needs to be clear if it was a specific bank or something else on chain that went wrong. if it was a problem with our tech even if just a issue on go live, we need a strong message that it's solved 100% and not coming back.

if msv isn't up considerable with the quarter update (and I think it will be, even though really we are still just quarter one or really coming online in my view); Splitit management team want to have a very good plan for addressing the above 3. without capital raises and even the future will be looking very tough.

the above aside Splitit remains the best solution to real life problems merchants have and the advantages and strengths are obvious -- but if merchants don't sign up, if big brand names aren't advertising for us (white label), Splitit will indeed be on trouble. we need a strong quarter and some detailed strategy addressing and clear awareness of our weaknesses. this will boost confidence and share price.