Ann: Partnership with Leading Smart Terminal Operator MYP1, page-60

IOU seems to be going at the market roll-out differently to other BNPL players

APT went for sexy retailers - fashion, cosmetics... 1 by 1 - initially online - but then in store
They heavily relied on influencers (as spokespeople for shoppers) to apply pressure on retailers to get on board - saying things like 'if you don't offer APT we'll shop somewhere who does'

This strategy was effectively 'marketing' driven - applying lots of word of mouth via social media - to pick off key retailers to then apply more pressure on others - as such it took quite a while to rack up big numbers of merchants

IOU is going for a 'platform integration' approach - sidestepping individual retailers - and going for platforms that support retailers en masse - such as online shopping platforms and POS terminals

The APT approach is 'intimate' but slow

The IOU approach is 'blanket' but very fast

But both models rely on what happens next - will the shopper use the BNPL service? - and that comes down to a combination of practicalities and fashion

Practicalities: easy to use, easy to understand, compelling offer...
Fashion: catches on, is the new way to do things...gets talked about...goes viral...

I think we all know shoppers want BNPL - its incredibly compelling as a budgeting tool - with no cost to the customer
IOU have now created a seriously impressive base of merchants
This thing is set to fly