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@RWesser1 - whatever anyone tells you from here is just an opinion. No one can see the future, not even people that right media articles and perform analysis.

You could have the best idea and plenty of money and still fail. Many businesses do every year. The difference is execution. A business plan executed well via the appropriate distribution of capital is the difference. We're seeing some exceptional execution by management up to now.

You raise concerns over competitors and I don't believe that is going to be a problem. I believe there will be plenty of competitors both existing and new. I would say this; how many BNPL company's are listed on the ASX? Now how many of those reported record growth? I believe they all did?

How does that happen???

Well, look at traditional in store shopping. It's declined pretty heavily significantly because of Covid-19. This has forced a drastic shift in the way businesses of all kinds have had to serve their customers. In other words, in store shopping dropped off and e-commerce increased. This is a real inflection point for finance as it is enhanced by technology or more commonly known as fintech. In the history of business the biggest company's have become what they are by riding these inflection points and pioneering change.

Now IOU are not the pioneers of BNPL and as you mentioned there are other players such as Grab, Razor Fintech, Hoolah, Rely, etc. I believe the difference in approach is what separates IOU from the competitors. While the competitors focus on the credit card holders IOU is pulling together data from financial and non-financial institutions like Telcos (everyone has a phone because it's a part of life). This unbanked/under banked portion of the population is exceedingly large. This is done through the sophisticated e-KYC module that IOU have developed for onboarding not only consumers but also merchants and gateways. That's right, they have an onboarding feature for gateways as well.

IOU as a company has operated with the top 20 banks and telcos for the past 20 years. This is a business that is deeply ingrained into the Malaysian economy. IOU doesn't need to have the entire pie to be successful. The entire SE Asian region is anticipated to be worth $300b by 2024. Even a .001% piece of the pie is worth $300m in revenue. Multiply that by the average price to sales ratio for BNPL which 20 and you get a whopping $6b market cap or $10.90 per share (550m shares). That's still a big ask but decrease the percentage of market share to whatever you feel comfortable with and it becomes pretty clear that the company value has a better chance of increasing than decreasing based on what we have seen up until now.

This of course is my opinion and I can't give you the answer about how much the company will be worth or when it will be worth that amount but I can say it's already taken us all for a pretty nice ride, it's up to you when you want to get off.