$1 Club, page-26682

I'd say it's beyond you because you don't know systems development. The app is fairly easy to develop, it's all the backend services that are complex like OTP and security. All these services have to work across all systems. It's more than just app development, they've made an entire platform. See below:

IOU Pay Platform & Architecture Enhancements - Core BNPL Platform modules completed

The Company has completed development and testing of core system functionality and interoperability of its BNPL transaction processing platform and service offering as scheduled. These enhancements have been made to the Customer, Merchant and Administration Systems and include essential and proprietary system access and security, user feature sets and interface combined with processing, administration, compliance and reporting functionality. Customer System Key system enhancements allow for easy self-onboarding via the IOU Pay Platforms Customer Web Portal and Mobile Apps (Android & IOS) and for customers to process enquiries on their available spend limits, account and transaction history and current BNPL application and transaction status.

The Web Portal enhancements are now complete with the Consumer App (Android & IOS) development in progress.

Merchant System Platform enhancements have been completed to enable approved merchants to integrate with

IOUpay’s BNPL services via their merchant websites. This is a critical requirement for large and specialist e-commerce merchants and merchants who support their in-store operations with a significant online sales presence.

The Merchant Web Portal has also been enhanced to enable merchants and their sub-merchants to process enquiries about past and current transactions including merchant settlement and transaction payout status. This enhancement has been supported by the development of an API integrating

merchant website and backend systems with the IOU Pay platform facilitating merchants being able to submit BNPL applications for first time transactions.

The Company has also developed an Android mobile App running on an IOUpay Smart Terminal for in-store merchants with the Smart Terminal enabling dedicated merchant on-boarding of in-store customers and processing BNPL transactions. Administration and Back Office System

Enhancements to the Administration and Back Office System includes:

• System analytics and Management Dashboard to show portfolios of customer transactions profiling merchant performance and key statistics, BNPL funds deployed and sales and operational performance including key Company KPI’s for its BNPL service offerings including Return on Capital Employed (ROCE);

• Management and maintenance of customer profiles for customers on-boarded by each merchant;

• Management and maintenance of merchant, sub-merchant and merchant user profiles onboarded with BNPL payment options adopted, merchant Discount rates (MDR) chargeable

for each BNPL payment option and key merchant settlement terms;

• Management and maintenance of Payment Gateway and Bank functions including routing tables to multiple payment gateways and their associated MDR, including redundancy routing to address intermittent, scheduled or unscheduled system service downtime; and

• Payment Gateway and Bank integrations now also include:

o BNPL transactions to be supported by credit and debit card payments

o a new range of transaction categories including pre-authorization, capture, authorisation & sales, refunds, tokenisation and settlements

o support for 3D and non-3D merchant identification and verification of customers for recurring transactions. 3D identification consists of transactions requiring a One-Time

Password (OTP) from the account holder, while non-3D consists of tokenised card and customer username and password data encrypted for security purposes for

recurring transactions and system use

o IOUpay operations and back office enquiries to manage and support merchant and customer payments and enquiries.

System Security Enhancements

Completed enhancements to the IOU Pay Platform include the following:

• Digital Signature Certificates to ensure data integrity and completeness during transmission and for verification of sender identification

• SQL Injection Free to exploit security vulnerability occurring in the database layer of any platform applications

• Pre-determined Request & Response URL’s – only registered URL’s are allowed to communicate with the platform with others treated as security threats, blocked and registered for investigation

• Unique Merchant ID’s & Keys

• Embedded encryption for ll sensitive information

• Hardware firewalls protecting from hackers and virus attacks

• DDOS Attack Prevention (Denial of Service attack mitigation)

• Anti-Fraud system protection and monito