Fintech Player IOUpay Limited (ASX:IOU) On a Bull Run, Stock Up 7x in 4 Months
- October 21, 2020 03:27 PM AEDT
- Team Kalkine
Summary
- ASX-listed fintech company IOUpay Limited, via its technology platform, supports its institutional clientele to authenticate end-user customers and process financial transactions.
- It has entered the “Buy Now, Pay Later” market, which is gaining strong momentum globally for providing ease while purchasing merchandise.
- The Company has rebranded its business operations and incorporated technological improvements to align itself with the current market needs and its objectives.
- Stock price of the Company has increased by 7x in the last four months.
ASX-listed mobile payment solutions provider IOUpay Limited (
ASX:IOU) has been experiencing spectacular growth in the stock market. Its share price has surged by 7x in the last four months, as on 20 October 2020.
The Company has been recently in news for rebranding its business operations and entering the “Buy Now, Pay Later” (BNPL) market.
The Buy Now Pay Later payment scheme is redefining the digital payment space. The instalment payment scheme with zero interest is a successor to the card payment system. It is a quick, secured, and a convenient payment method that has provided affordability to buyers.
Being new to the space, the service is not offered by all merchants. However, more and more merchants are increasingly offering BNPL to their customers, attracting more fintech players.
Launch of BNPL Service
IOUpay recently started offering instalment-based BNPL payment processing and consumer loan processing to boost larger volumes of transactions among customers and merchants.
The Company’s proprietary IOU Pay Platform
processes more than 17 million online payment and consumer interactions. This augments recurring monthly revenue flow from a considerable volume of digital payments and mobile banking transactions, corporate messaging, and product marketing initiatives.
IOUpay Limited
serves around 20 prominent Malaysian banks, telcos and corporates that are based out of Malaysia and Indonesia. The Company offers mobile OTT (over-the-top) services to end-users through telecommunication network providers. IOUpay supports its institutional clientele to authenticate end-user customers, and process banking, purchase and payment transactions.
The Company’s
business divisions include mobile banking, digital payments, and digital services.
Technological Improvements to Capitalise on Digital Payment Services Demand
IOUpay Limited recently notified incorporating key improvements to bring in more revenues by utilising its IOU Pay Platform. Enhancement of the technology platform was made to capitalise on the surging demand and upcoming market opportunities across Malaysia and Indonesia.
The improvements are meant to enhance customer services offered by the Company’s bank and corporate clientele to their SME and other consumers.
The improvements include integration of the platform with that of existing clientele such as banks and payment gateways to credit score, authenticate and onboard customers. The new features and capabilities also provide ability to process clients’ loan payments using debit and credit cards and debiting of accounts.
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