Business
Why the Payright (ASX:PYR) share price is storming higher today
Payright Ltd (ASX: PYR) shares are on the rise today after the company released its trading update for the final quarter of 2020 calendar year.
In morning trade, the Payright share price is up 5.8% to 90 cents.
What driving the Payright share price higher
For the period ending December 31, Payright revealed strong quarter-on-quarter growth in gross merchandise value (GMV) and customer numbers across the Australia and New Zealand region.
Total group GMV came to $20.6 million for the quarter, up 28% on the prior corresponding period.
The buy now, pay later (BNPL) provider attributed its solid performance to a direct strategy of offering higher-value purchases to its customers.
In addition, the business expanded its customer base to…
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