Dexit Inc. today reported a greater loss for the second quarter ended June 30. The specialist in electronic retail payments said its second-quarter loss quadrupled to $2.9 million.

as it eyed growth outside the Toronto area.

The $2.9 million loss amounted to 49¢ a share and compared with $731,242 or 31¢ per share a year earlier, the company said. “The second quarter was another period of accomplishments in Dexit’s development,” CEO Renah Persofsky said in a release.

“Dexit is now ready to expand from our initial focus in downtown Toronto to the greater Toronto area and other urban centres in Canada. We are also increasing our efforts in select international markets.”

Dexit has developend an electronic payment facilitation service for small transactions –generally under $25.

As of June 30, Dexit said it had signed up more than 32,000 consumers and set up its technology at more than 250 merchant locations, including stores represented by major brands such as A&W, Burger King, Mr. Sub, Imperial Parking, Pharma Plus Drugmarts, Petro-Canada, and Mac’s Convenience Stores.

The firm also signed two licence agreements with Bell Canada in April.

Dexit’s initial public stock offering in June raised $22.69 million, after financing-related costs. Dexit also received initial licence fees of $2 million from Bell Canada.