Top post Ryzie - ran out of GA bulbs today will owe you one
Further adding to this - i can see IOU and their partnered banks, telcos, utilities and some big corporate merchant clients offering interest free instalments on everything from paying bills, buying goods and services.
The IOU platform already has "know your customers (KYC)" authentification which is a requirement they needed to have from servicing banks in their existing digital payment business. Also this gives IOU and its partnered clients valuable data on their end customers.
To me, the IOU platform is the digital payment facilitator between banks, utilities and big corporate merchants with their end customers. IOU wants to expand their services in this role and add the BNPL option.
Will this prove to be a far superior model than say Afterpay, Zip and the so-called "traditional bnpl" which still can't turn a profit even with the biggest being Afterpay turning over $550mil revenue for a $25mil p.a loss.
Looks to me that the "traditional bnpl" model is broken and IOU's model might be the one that succeeds imo.
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