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Kevin, - seems like you have a bone to pick with some here, - and seems like you are prepared to try and put the boot in when you can and this almost takes priority over giving balanced views on news such as this.

Thanks for posting the Atome / Ipay88 deal though. This is the type of thing I come to hotcopper for.

Just to provide a little more context (from my point of view) to your comments regarding Atome partnership with Ipay88.

As mentioned already, to me this looks like a very similar partnership to what Ipay88 set up with IOU 9 months ago. So Atome seem to be following in IOU’s footsteps, and will be one more of the payment options that Ipay88 offer.

Yes, it is more competition for IOU, it was always coming, and will continue to come. This can be read as a threat (of which it is to some degree) or as confirmation that the space IOU is playing in is a good place to be and attractive to others. I personally tend to think there is still plenty of room for all to grow significantly, so don’t see it so much as a threat, and more so a confirmation that IOU are on to a good thing. Note, I wouldn’t say the same thing applies to new entrants here in Australia in the same space though.

You mention Atome is taking the same “mass onboarding” approach as IOU has. Ok, again, they seem to following in IOU’s footsteps. Again, confirmation perhaps that IOU’s strategic approach has / is / was correct and smart?

This deal doesn’t mean IOU’s deal is dead, as much as when the next big player partners up with IPay88 would means that Atome’s deal is dead. At the end of the day, a customer doesn’t care or even know how much funding a company has, - what will influence their decision at checkout is their view of the company, the deals it offers etc. This is possibly where IOU has a home grown edge, Yuna etc

You mention Atome’s $500M war chest as if it is something that IOU simply can not compete against. I have been giving them the benefit of the doubt re funding, as I am sure they will have this under control. All speculation, but I have wondered if the IDSB purchase will assist large amounts funding (if needed).

The other thing that will assist funding is that they are getting the BNPL ball rolling on their own, and already have said it is more lucrative than they were hoping, and that just after a few months they were not far off been cash flow positive. As I see it, this would set the company up very positively in front of future wholesale funders, and no doubt give them some good leverage on rates, amounts etc

Start combining these facts (independent income there is to assist funding if needed, proven business model that is cash flow positive, etc) and all of a sudden the possibility of large funding (in the $100’s of millions) is quite feasible. Yes, even a $500M war chest is quite feasible.

Have to agree with you they have seem to have been moving a little slow, but they have given reasonable explanations for this. The last couple of updates have looked very positive regarding growth, and I think we will be seeing the pace pick up significantly in the upcoming updates, hopefully one of which we should see in the next week or two.

All my own speculation and IMO, etc!