ThinkSmart is a specialist digital payments platform business with a shareholding in NYSE-listed Block, Inc (NYSE: SQ) (“Block”) and operations within retail consumer and business finance.
ThinkSmart has two areas of focus, aimed at delivering value and returns via:
A shareholding within NYSE-listed Block, Inc
ThinkSmart holds shares in Block, the NYSE-listed global technology and payments group that, through its subsidiaries, is providing economic empowerment by creating the tools to help expand access to the economy.
ThinkSmart has a rich heritage in delivering value via strategic investments and initiatives:
Investment in technology, expertise in UK retail consumer payments and finance
ThinkSmart’s technology-led approach and retail sector expertise has yielded a proprietary, highly robust origination and credit decision engine, SmartCheck, which powered its point-of-sale lease finance payments solutions.
ThinkSmart also operates legacy retail consumer and business finance offerings, which have been in well-documented managed wind-down, together with the provision of an outsourced call centre customer support service for Clearpay. ThinkSmart ceased writing any new business in February 2021 relating to its retail consumer and business finance offerings, and is managing the wind-down by adjusting the cost base accordingly.
The Board of ThinkSmart believes that there is significant potential for future value accretion via its holding in Block. ThinkSmart will continue to primarily focus its strategy on the delivery of shareholder value via managing its holding in Block (as it did with Clearpay), while carefully executing the managed wind down of its operational activities and provision of the Clearpay call centre outsourced services.
Background to ThinkSmart
ThinkSmart was founded in Australia in 1996 and commenced operations in the UK in 2003. Following the sale of its Australian and New Zealand operations in early 2014, ThinkSmart’s primary trading operation has been within the UK.
The company is authorised by the Financial Conduct Authority.