Refer Stock ead
https://unauthorised investment advice/tech/ioupay-gets-the-all-clear-to-complete-acquisition-of-42pc-stake-in-malaysian-finance-company-i-destinasi/Rationale for the IDSB acquisition
Under agreements with its Malaysian bank partners, IDSB acts as a specialist contracted service provider for the banks.
The company provides banks with credit processing, account set up and ongoing account management services which generate upfront transaction fees and recurring account servicing revenues.
This business complements IOUPay’s own offering, and opens the door to collaboration and cross-selling opportunities between the two companies.
There are also synergies that could be created through the investment relationship to generate further value.
Both IOUpay and IDSB have a well-established history in servicing Malaysia’s largest banks, which means they could now leverage on each other’s expertise and relationships to provide transaction services to bank customers.
The partnership also presents a strategic opportunity for IOUpay to secure IDSB bank customers for its own BNPL service offering, which could add significant new revenue streams for the company.
In 2013, IDSB was granted an Accountant General Salary Deduction Code (AG code), allowing it to deduct salaries of Malaysian civil servants directly at the source, prior to payment to the employee.
This AG code is only one of two licences given out by the Malaysian government (with the other being held by the co-op financial entity, ANGKASA).
Both IOUPay and IDSB are now looking at ways to collaborate on how to maximise the AG code facility for the more than 50,000 civil servants’ accounts that IDSB currently serves.
IOUPay is a rapidly growing company that has just been awarded the “Fastest Growing Buy Now Pay Later Platform – Malaysia 2021” by the UK based Global Business Outlook magazine.
In the last quarter, more than $6.57m of total BNPL volume was transacted by the company, delivering $492k in net transaction revenues.
And with its target market of Malaysia now opening up from the COVID-19 lockdowns, IOU expects merchant onboarding and customer acquisition to further speed up over the next quarter.
- Forums
- ASX - By Stock
- OVT
- Ann: IDSB Conditions Precedent Satisfied & Tranche 1 Completion
Ann: IDSB Conditions Precedent Satisfied & Tranche 1 Completion, page-63
-
- There are more pages in this discussion • 28 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add OVT (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.5¢ |
Change
0.001(12.5%) |
Mkt cap ! $6.851M |
Open | High | Low | Value | Volume |
0.5¢ | 0.5¢ | 0.5¢ | $673 | 149.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 1351467 | 0.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.5¢ | 6966514 | 16 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 1351467 | 0.004 |
37 | 17062709 | 0.003 |
9 | 14455000 | 0.002 |
8 | 21649999 | 0.001 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.005 | 6866514 | 15 |
0.006 | 3048638 | 8 |
0.007 | 1853165 | 6 |
0.008 | 1685714 | 4 |
0.009 | 1100000 | 2 |
Last trade - 14.10pm 13/09/2024 (20 minute delay) ? |
Featured News
OVT (ASX) Chart |
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online