Ross's questions to LESAKA TECHNOLOGIES (LSAK) leadership • Q3 2025
Question
Asked about the net revenue growth in the Merchant division, with a specific focus on the performance of card acquiring and Alternative Digital Payments (ADP).
Answer
The key top-line metric is net revenue, which grew 58% year-on-year for the division. While product-level net revenue is not disclosed, card acquiring is growing at market rates. Within ADP, supplier payments showed strong growth of 57%, while prepaid services grew only 4%. The company has interventions in place and is confident it can restore prepaid growth to mid-teen levels. The division's focus is shifting towards improving unit economics and operational leverage.