$1 Club, page-1425

With the Sept quarterly due sometime next week we should get further juicy updates to their progress in terms of the BNPL roll out in Malaysia & Co. Looking at the last quarterly for June there were already a good trove of information regarding their level of progress with BNPL implementation and it appears to be at an advanced phase imo.
Copying some of the relevant info from June Quarter and sharing it here for new comers to get up to date with where we are at.


• Technology Platform Improvements & Product Development– The Company has added new features and capabilities to its mobile banking and digital paymentsplatform in response to increased demand and new revenue growth opportunities in Malaysia andIndonesia. These include the system’s ability to integrate with existing bank, non-bank and telco customers to authenticate, credit score and on-board customers and process consumer loan payments. Further product design and development for Buy Now Pay Later instalment payment processing is underway. Initial technical and user testing has been completed with newly added capabilities to process micro-finance consumer loan payments. Further investment, development and testing is to be carried out for Buy Now Pay Later instalment payment processing, account management and analytics in the current quarter (Q1 FY 2021 - July 2020 to Sept 2020 )

• Business Review - Focus on Expanding Value-Added Payment Processing & Services As one of Malaysia’s top 3 mobile banking transaction, messaging and payment processing platforms, the IOU Pay Platform processes over 17 million online payment and consumer interactions every
  month. These produce recurring monthly revenues for high volumes of mobile banking transactions and digital payments, corporate messaging and product marketing initiatives.

• The Company services many of the largest domestic and international banks in Malaysia and large corporates including utilities and telcos in both Malaysia & Indonesia. Other existing platform customers include industry leaders in key sectors referred to as verticals. These include Air Asia (travel), Mazda (auto), AXA and Sun Life Financial (insurance), Heineken (food & beverage) and Courts (SE Asian consumer electrical and furniture retailer). These industry verticals engage the Company for specific campaigns leaving more frequent transaction and payment processing a key growth target for the Company.

• With large sectors of national workforce populations still being required to work from home and with increased COVID-19 products and services being supplied via new and existing ecommerce merchants, the demand and business volumes for digital payments has risen significantly. This reflects a positive market trend for increased consumer and business purchases for essential products and services electronically via the internet from home. Prepaid airtime and data, utility bill payments, food and beverage supplies, e-Money purchases and mobile banking transfers are all experiencing significant growth in terms of transaction volumes, transaction values and turnover to GDP. Conversely, traditional forms of payment including credit card, cheque and ATM usage are experiencing continued declines as reported by the central banks of Malaysia and Indonesia (Bank Negara Malaysia and Bank Indonesia, Q1 & Q2 Reports 2020). These trends present significant growth opportunities for the Company which already processes more than 18 million mobile banking and payment transactions per month for Malaysia’s top 20 banks and major telco’s and corporations in Malaysia and Indonesia.

• Further acceleration of growth in the digital payments and mobile banking sectors is occuring as a result of a shortage of consumer and small business credit with both Malaysian and Indonesian governments encouraging micro-financing and e-wallet initiatives as economic stimulus initiatives. The Company plans to capitalise on its technology platform strength in customer authentication and e-KYC (paperless electronic Know Your Customer), secure payment processing and e-commerce to optimise revenue opportunities in this fast growing sector.