Ann: IOUpay Acquires 42% of I-Destinasi Malaysian Finance Company, page-212

“IDSB focuses on providing instalment based consumer credit services”

”IDSB generates upfront transaction fees and ongoing account management fees. IDSB does not generate interest rate income”

”IDSB offers long term (10yrs) consumer loan products.”

…IOU now basically owns half of IDSB.

So here’s my question: is there currently a BNPL company out there that can offer interest-free instalment based credit ranging from 1 month to 10 years? Or have IOU just become the first to do that? Did IOU just change the game by now being able to offer long term credit via IDSB along side it’s short term BNPL?

Imagine the new advertising: “Introducing myIOU! A Buy Now Pay Later service allowing you to split your purchase over 2,3 or 6 monthly payments with 0% interest! Also introducing myIOU credit plus! Where existing myIOU consumers can sign up to increase their credit limit to 10,000 MYR! Not only that, we are also launching myIOU merchant plus! Giving merchants the ability to provide up to 10,000 MYR additional credit!

And finally, we would also like to introduce myIOU-Destinasi! Where eligible customers can apply for up to 200,000 MYR credit, where you can split your purchase up into monthly 0% interest payments, up to a period of 10 years!”

Sounds good to me

Disclosure: the above is my musings, not real advertising

IMO

GLTAH