21 April 2021

Splitit growth accelerates in first quarter Q1 FY21 Quarterly Report & Appendix 4C

HIGHLIGHTS

• Merchant Sales Volume (MSV)grew strongly to US$82M, up 247% Year over Year (YoY)
• Gross Revenue (Non GAAP) of US$2.7M, up 292% YoY
• Normalising Q1 MSV for a deliberate shift away from debit cards, MSV in Q1 2021 would have surpassed Q4 FY20, and growth rates would have exceeded 300% YoY
• Total merchants increased to 2.2k with new brands adopting Splitit during the quarter,includingGoogle,GiantBicycles,Hastens,Findex,MateBike,Super73,APMMonaco,Xupes,PolyandBark, openshop, House of Hackney and Dott.pt
• Total Shoppers reached 0.5M, increasing 70K in thefirst quarter
• US$150M receivables warehouse facility with Goldman Sachs to support$800M of annual MSV1, in additional to US$75M closing cash balance.
• Global partnership with Union Pay postquarter-end, providing access to its global network of 9B cardholders

April 1, 2021

Splitit now available on the Google Store in Japan

• Splitit is the BNPL partner that offers instalment payment solutions on the Google Store in Japan
• Splitit’s instalment solution is live on the Google Store, Japan, for the purchase of the new Pixel 5 mobile phone, Nest products and Chromecast streaming devices

Splitit Payments Limited (“Splitit” or the “Company”) (ASX:SPT), a global payment solutions provider, advises that further to its announcement of January 11, 2021, it is now enabling Japanese customers to use instalment plans to make purchases from the Google Store in Japan.

As of March 31, Japanese customers purchasing Google’s new 5G phone, the Pixel 5, or Nest devices from the Google Store, can use Splitit to turn their payments into equal monthly instalments on their credit card.

26 February 2021

Splitit Reports Record Year with 300% Revenue Growth

• Merchant Sales Volume (MSV) of US$246M, up 179% YoY, annualised MSV of US$345M in Q4
• Gross Revenue (Non GAAP) grew to US$8.4M, up 300% YoY
• US$150M receivables warehouse facility with Goldman Sachs to support $800M of annual MSV
• Total Merchants accelerated to 1.8K, up 144% YoY, supported by self-onboarding via Stripe
• Total Shoppers more than doubled to 432,000, up 106% YoY
• Foundational partnerships formed with Visa, Mastercard and Stripe
• Several new large brands added, with Google Japana notable signing post year end

3 December 2020

Merchant Sales Volume booms during Black Friday shopping week

• Record Merchant Sales Volume (MSV) of US$15.3M across the holiday shopping week1including Black Friday and Cyber Monday, up 216% over the same period in 2019; -MSV averaging close to US$2M daily across the period; -Strong MSV growth across all key markets: North America, Europe and Asia-Pacific; -Shoppers from over 77 countries
• NovemberMSV another record month, growing 255% year-on-year
• Total Shoppers now over 410K, adding 48K new shoppers since the end of Q3
• Total Merchants now over 1600, up 20% since the end of Q3

" Splitit has signed an agreement with leading professional services payment provider, QuickFee Limited (ASX:QFE) to enable the clients of accounting and law firms in the US and Australia to pay their fees on credit card using Splitit’s instalment solution.

QuickFee processed more than US$300M worth of payments in FY20 via its online payment portal for more than 400 accounting and law firms across the US alone. The new service will be available for QuickFee’s existing and new customers to opt-in to in the coming weeks. "

March 2020 Quarterly Report & 4C 
Strong Q1 Revenue with Exceptional Growth Trajectory

Splitit Payments provides an update on its quarterly activities for the three-month period to 31 March 2020.

• Accelerating growth recorded across all leading KPI’s despite COVID-19 challenges
• 165% increase in Merchant Sales Volume (MSV) for April month to date on prior corresponding period (PCP) (April 1-26)
• 152% increase in MSV for the same period in March 2020, following new large merchant wins
• Strong Q1 revenue growth, up 104% on PCP to US$657K and up 51% on previous quarter
• North America Q1 MSV continuing to accelerate, up 42% on PCP
• Total Merchants grew 108% on PCP to 862 and 20% on the previous quarter, with 12M Active Merchants up 12% on the previous quarter
• Notable new merchants include; Nectar Sleep, Canyon, Scorptec, Dreamcloud, Ride Cake, Scandiborn USA, Factory Pure, Bedmart, P D PAOLA, GoEasy Australia, Redsbaby
• Pivotal global agreement with Visa to partner to accelerate instalment payment innovation
• Significant partnership with Stripe, to facilitate rapid scalability over the coming quarters

Splitit 2019 Full Year Results

Highlights:

• Record revenue of US$ 1.65M, up 108% on FY18 (US$0.79M) driven by growth in merchant fees
• Merchant Sales Volume (MSV) of US$88M, annualised to US$110M, up 52% on FY18 (US$58 M)
• Total Active Merchants up 97% to 720(FY18:380) with12 Month Active Merchants up 76% to 386(FY18:219)
• 12 Month Active Shoppers up 55% to 118,783 (FY18 : 76,623)
• North America was the fastest growing region with MSV increasing 78% Y/Y
• Strategic partnership agreements with EFTPay, GHL,Ally Commerce, Shopify, Magento, iPay88 and BlueSnap
• Cash capacity to fund continued growth (US$16.33M at 31 December 2019)
• Strong Q1 commencement with numerous agreements signed with large merchants and new partners including; Stripe, Viagogo, Ride Cake, Redsbaby and Go Easy Online

New Partnership with Stripe

• Leading payments technology company Stripe to become payment platform for all new Splitit merchants
• Facilitates growth in funded model, significantly improves merchant experience and streamlines merchant onboarding process
• Enables rapid global scaling to meet growing demand for Splitit’s card-based instalment solution globally

Sydney, Australia, January

28, 2020 – Splitit Payments Ltd

(ASX:SPT), a leading global monthly installment payment solution, today announced its partnership with Stripe , a global technology company that builds economic infrastructure for the internet. The partnership  agreement will see Splitit’s solution integrated with Stripe Connect to streamline merchant onboarding and enhance the merchant experience, enabling Splitit to scale significantly faster globally.

Stripe powers on line payments worldwide, processing hundreds of billions of dollars every year for millions of businesses. The integration with Stripe Connect will streamline merchant onboarding, providing technology to enable merchants to self-onboard to Splitit’s platform, currently a process that is undertaken manually. This  streamlined experience will facilitate the rapid scaling of merchant numbers. The integration will also improve Splitit’s funded model process by automating acceptance and movement of money for all funded transactions, and significantly improve the merchant experience including multi-currency support and improved reporting tools. While the terms of the contract are confidential and commercially sensitive, Splitit will pay a small percentage of every transaction processed via Stripe Connect to Stripe. The Stripe contract shall continue until terminated. Splitit may terminate the contract at any time, whereas Stripe may terminate without cause by giving 120 days notice or with cause under customary termination rights relating to unremedied breach of contract, insolve ncy and reputational risk.

Splitit believes the Stripe integration is a significant strategic development in Splitit’s product and expects the benefits of the Stripe integration will have a material, positive impact on Splitit’s merchant acquisition rate.

Sydney, Australia, 21 January 2020 – Splitit Payments Ltd (ASX:SPT) (Splitit or the Company), a leading global monthly instalment payment solution, announces that Chief Executive Officer, Mr Brad Paterson has been appointed to the Board as Managing Director, along with Mr Jan Koelble who has joined as an independent Non- Executive Director. In addition, Splitit’s Co-Founder and General Manager, EMEA, Mr Gil Don, and Non- Executive Director, Mr Michael DeFranco, have resigned from the Board to pursue new opportunities. These changes take effect today, on 21 January, 2020.

Brad Paterson was appointed as Chief Executive Officer on 1 October having joined the Company as Managing Director, North America in June 2019. He has more than 20 years of executive and leadership experience at some of the world’s leading fintech companies including PayPal, Visa and Intuit.

Jan Koelble has extensive experience in investment management, risk management and global capital markets. He is currently COO and Co-Founder of Clade, a private network of family offices and institutional investors based in New York. His career has included nearly a decade at Credit Suisse based in New York and Zurich, where he served as the COO for financial products in thewealth management business.

Funding and Regulatory Update 

Splitit advises that due to rapid growth, it has utilised half its interim financing facility with Shaked Partners Fund, L.P. (Shaked). The Company is also pleased to announce it has registered with AUSTRAC to provide factoring services to merchants and grow its funded merchant model in Australia.

Brad Paterson, Splitit  CEO, said: “This reflects the rapid growth we are seeing in the U.S. market as demand rises for the Splitit platform. The facility with Shaked, on more attractive terms, also frees up capital to invest in our platform and support our growth plans, including expanded sales and marketing.”  

“This is another important step in building our funded merchant model and improving efficiencies as we grow the business. Our business model is fundamentally different to other BNPL providers, as such, we are not subject to the same regulatory or licensing requirements in our principal markets associated with the provision of new consumer credit. This allows us to be nimble and highly scalable.”

29 October 2019 Presentation:

Global Monthly Instalment Solution:

Frictionless - Instant approval, no new credit line, no application

0% Interest & Fees - No interest or late fees

Global Cross Border Solution - Available to all shoppers with a credit card, globally

Monthly - Promotes responsible budgeting and preferable for higher ticket items

Consumer Benefits:

• Improved purchasing power
• Manages cash flow
• No credit application or account creation
• No late fees from beyond issuing bank
• Continue to accumulate reward points/miles

67% of shoppers said they would be more likely to make larger purchases, if they are able to pay in monthly instalments*

Merchant Benefits

• Increased average order value (AOV) reaching into the luxury segment
• Incremental sales through improved online checkout conversion
• Seamless consumer journey
• Integrated with major ecommerce platforms and payment gateways
• No payment delays – instant approval
• Flexible payment plan to meet consumer requirements

49% of businesses are adding new payment methods based on consumer demand

25% of consumers abandon eCommerce carts due to price

Presenation 29 October 2019

Splitit provides the business process and technology platform to enable merchants to offer Buy Now Pay Later instalment payments to credit card holders at the point of sale.

Splitit’s technology supports:

• Visa
• Mastercard
• UnionPay card schemes
• 48 global payment gateways

Plus eCommerce platforms including:

• Salesforce Commerce Cloud
• Shopify
• Magento
• BigCommerce
• WooCommerce
• IBM

Operational progress since the half year results:

1. Merchant wins include leading US consumer brands Chili Technology, Eight Sleep, BlueFly, Ashford, Nili Lotan and Ace Marks
2. Expansion into B2B market with 1-800 Accountant
3. New integrations with Shopify (approx. 800,000 merchants) and Divido (approx. 1,000 merchants)
4. Leadership transition with former PayPal, Visa and Intuit executive, Brad Paterson appointed as new CEO from 1 October 2019
5. Key senior appointments in US and new presence in Canada
6. New finance facility for up to US$8m (approx. AU$11.6m) with Shaked Partners to fund growth in merchant funding model
    

14 October 2019

Update on North America Operations

Highlights

• New partnerships with Shopify (~ 800,000 merchants) and Divido (~1,000 merchants)
• New merchant a greements with leading US consumer brands Chili Technology, Eight Sleep, BlueFly, Ashford, Nili Lotan, Ace Marks
• New B2B agreement with accountancy platform,1800 - Accountant
• Strengthened US go-to -market infrastructure and established presence in Canada

New Partnership with Ally Commerce

Highlights

• New partnership agreement with US eCommerce provider, Ally Commerce to offer Splitit’s instalment payment solution to its large enterprise merchants
• Leading sleep and respiratory care company, Philips ’Respironics Colorado is Ally Commerce’s first live merchant to adopt Splitit’s solution
• Philips’ sleep and respiratorycare business generated € 1.7 billion (AU$2.9 billion) in sales in 2018
• Aligns with Splitit’s strategy to rapidly scale via partnerships with global organisations that provide access to multiple merchants and higher value transactions

SPLITIT UPDATE for the quarter ending 30 June 2019

Highlights

• New Merchants - 72 new active merchantsadded during the quarter,bringing total active merchants to 509, a 121% increase on the prior corresponding period (Q22018: 230)
• Sales Pipeline Growth - more than700 merchants currently in the sales cycle
• Transactions - 37,000 new customers, taking the total to197,000, up 228% on pcp (Q22018: 60,000)
• Merchant TransactionVolumes-  A$31.9M, up 108%on pcp (Q22018: A$15.3M)
• Merchant Fees - A$575,100,up 123% on pcp (Q22018: A$257,000)
• Bad Debt Losses - maintained at zero from197,000 total transactions processed to date (valued at A$159M)
• New Partnerships - with payment service providers, EFTPay and GHL(post qtr end)

GHL Partnership to Offer Instalment Payments to 2,000 Merchants in the ASEAN Region.

Sydney, Australia, 22 July 2019 – Splitit Payments Ltd (ASX:SPT), a leading global monthly instalment payments solution business, today announced a three-year partnership agreement with GHL ePayments Sdn Bhd, part of leading payment service provider, GHL Systems Berhad (“GHL”), to offer Splitit’s instalment solution to more than 2,000 online merchants in Malaysia, Thailand, Indonesia and the Philippines (the “Agreement”).

GHL is one of the top merchant acquirers in the ASEAN region, processing over AUD $350 million in total online and offline transaction value per month via its network of large and small merchants across multiple industries, with a particular strength in the travel sector.

Under the Agreement, GHL merchants will be able to offer their customers Splitit’s instalment payment solution to pay for online purchases with an existing credit card, splitting the cost into interest and fee-free monthly payments. Following integration with GHL’s payment systems, each merchant will be able to easily and swiftly go live with Splitit via a simple selection from a drop-down menu provided by GHL.