Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Why Are Splitit (ASX:SPT) Shares Shooting Higher Today?

Shares in Buy Now, Pay Later (BNPL) business Splitit Ltd (ASX: SPT) are up 16% at lunchtime today following the release of an announcement.

About Splitit

Splitit operates in the booming BNPL space and is one of the many companies in the sector offering consumers the ability to split the purchase price of basic products over a period of time. It’s the new form of the old school ‘lay-by’.

Splitit allows shoppers to split their purchases into up to 36 interest-free monthly payments using their existing Visa or Mastercard.

Splitit remains locked in a battle for relevance against fellow BNPL offerings from Afterpay Touch Group Limited (ASX: APT), Zip Co Ltd (ASX:Z1P) and Flexigroup Limited (ASX: FXL). These apps compete for space at online checkouts and in-store retailers.

Soon-to-be listed Latitude Financial Group Limited (ASX: LFS) has also begun offering a BNPL product called LatitudePay.

Today’s Announcement

Splitit has provided an update on its North American operations. One of the highlights in the announcement includes a new partnership with eCommerce platform Shopify to make Splitit’s solution available to Shopify’s network of more than 800,000 merchants across 20 countries.

Splitit has also singed new merchant agreements with leading US consumer brands Chili Technology, Eight Sleep, BlueFly, Ashford, Nili Lotan and Ace Marks.

In addition, a new business-to-business (B2B) agreement was reached with accountancy services provider 1800-Accountant, enabling it to offer a monthly instalment solution for the payment of customer invoices.

Is The Splitit Share Price A Buy?

The booming BNPL sector is an interesting space with the world’s two most powerful payment networks Visa Inc (NYSE: V) and Mastercard (NYSE: MA) watching on.

For now, I will be sticking with my Afterpay shares – I like the first mover advantage it has and its execution to date.

If you’re looking for a great overview of the differences between Splitit and the other uber-popular BNPL company Afterpay, consider reading Max Wagner’s article Afterpay (APT) Shares Vs. Splitit (ASX:SPT) Shares.

Or, if you think the BNPL space has become saturated and are looking for something else to invest in, you may want to read about the shares in the free report below.

[ls_content_block id=”18457″ para=”paragraphs”]

Disclosure: At the time of writing, David owns shares in Afterpay Touch Group Limited. He does not have a financial interest in any of the other companies mentioned.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report — or get it emailed to you — for FREE by CLICKING HERE NOW or the button below.

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

Skip to content