Year On Year (YOY) Trading Volume Growth Continues

MELBOURNE, VICTORIA, AUSTRALIA / ACCESSWIRE / September 25, 2020 / SQID Technologies Limited (CSE:SQID), a leading technology platform that provides merchant services including the processing of credit card payments and direct debits on behalf of Australian e-commerce merchants and related businesses, is pleased to provide a trading update.

The total value of merchant payment transactions processed ("Trading Volume") is showing 19% year on year growth up to September 24. August trading was 25% higher after a slower 2nd half, whilst September was 1% below strong September 2019 trading volumes.

Unaudited transaction value data, up to and including September 24, 2020 is set out below.

MONTH

FY20

FY19

% Increase

January

$18,285,524

$14,131,250

29%

February

$19,872,691

$11,753,246

69%

March

$18,349,135

$15,580,933

18%

April

$12,115,776

$17,347,557

(30%)

May

$16,968,967

$15,514,281

9%

June

$18,483,989

$11,746,587

57%

July

$16,963,182

$13,199,879

29%

August

$17,507,784

$14,013,019

25%

September (to 24th)

$16,286,514

$16,522,207

(1%)

TOTAL YTD

$154,833,562

$129,808,959

19%

Athan Lekkas, Chairman and Chief Executive Officer stated that "SQID continues to demonstrate consistent trading volume growth whilst in the back office, SQID is going through a technology transformation using Microservices architecture to strengthen the company's ability to respond to product requirements"

On behalf of the board of directors.

For further information please contact:

Athan Lekkas
Chairman & CEO
E: athan.lekkas@sqidpayments.com.au
W: www.sqidpayments.com.au
T: +61 3 9820 6400

About SQID Technologies

SQID Technologies Limited [CSE: SQID] is a payment processor headquartered in Australia with proprietary software for online debit or credit card payments for both retail and wholesale transactions. It provides merchant services and transaction processing to business merchants and ecommerce customers across both ‘Business to Business' (B2B) and 'Business to Consumer' (B2C) segments to bridge both retail and wholesale transactions through its platform. The SQID business has a proven model of delivering sustained profitability over time. Revenue growth has been achieved through strong growth from merchants in industries related to training and education. For more information on SQID, please visit https://sqidpayments.com.au/

THE CANADIAN SECURITIES EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

FORWARD LOOKING INFORMATION

Any forward-looking statements in this news release are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management.

SOURCE: SQID Technologies Limited

ReleaseID: 607802