The Splitit Ltd (ASX: SPT) share price is up 8 per cent to 69 cents today after the buy now, pay later start up told investors it processed more than a $1 million in underlying merchant sales over Black Friday.
Over the four day Black Friday to Cyber Monday shopping weekend it processed more than US$3 million in sales.
Splitit's management also claim it's growing strongly in North America.
The fintech reported its average order size over the period was US$820 with the average number of instalments per purchase also growing.
Splitit offers a different buy now, pay later service to Afterpay Ltd (ASX: APT) or Z1P Co Ltd (ASX: Z1P) as it lets users pay for goods over periods up to two years. Whereas Afterpay users must pay four instalments every two weeks unless they pay the debt due early.
Splitit hit the ASX boards in January 2019 after a 20 cents per share IPO and quickly rocketed to as high as $2 per share just weeks later. Since then it's retreated to 69 cents per share today as its operating growth metrics have not met high expectations.
Given the excitement around this space the stock is likely to remain volatile in 2020.