Interview Series 21st July 2020
From the helm: Splitit's (ASX:SPT) CEO, Brad Paterson
In this instalment of Bell Direct's From the helm series, Jessica Amir speaks to Splitit's (ASX:SPT) CEO, Brad Paterson.
After being an executive at Visa and Paypal, Brad now heads up the US-based, buy now, pay later company. Splitit has seen record sales growth in North America and Europe, and its shares have gained over 110% on the ASX so far in 2020. Splitit partners with credit card providers, including Mastercard, allowing consumers to use their credit limit to pay for items “in bite sized chunks”.
In this video Brad discusses:
- (0:43) How Splitit works
- (1:43) What to expect for the buy now, pay later industry in 10 years
- (2:51) Operational results: Quarterly and year-on-year sales surge due to a COVID-19 induced change in consumer buying behaviour
- (4:26) What to expect after the Government handouts come to an end
- (7:03) The most popular items bought using Splitit
- (8:01) Regulation to shake the industry
- (8:59) Why you should add SPT to your portfolio