Why the Smartpay (ASX:SMP) share price has stormed to an all-time high

The Smartpay Holdings Ltd (ASX: SMP) share price is storming higher today following the release of a positive third quarter trading update.

In the first 30 minutes of trade, the payment solutions’ share price reached an all-time high of 90.5 cents. However, the Smartpay share price has since retraced to 88 cents, up 7.3%, at the time of writing.

Smartpay is the largest independently owned and operated EFTPOS provider in both Australia and New Zealand. The company develops innovative point-of-sale (POS) systems for more than 25,000 business customers including banks, retailers and merchants.

How did Smartpay perform?

In today’s release, Smartpay advised it has booked strong growth over the third quarter of FY21, particularly in…