And that last line "for those looking for B2B services" that l believe is where point of difference and focus lies, it somewhat explains the low/no bad debt and coupled with IDSB eligible customers. Those B2B services for the most part is essential for those companies whom choose to delay inventory costs for a month or two following on from the covid restrictions really assists with them to regain foothold and eventually momentum in payment terms. I've never known people reliant on thier business to not pay for inventory to maintain float.
As these B2B entities return to normalised trading environment they will promote IOU offering truefold and with support they can grow and IOU will benefit. It's notable that they being smaller entities will be the stronger growth arena in time as theyve direct access to underbanked or unbanked part of the core mission of both IOU and Malay govt.
Im happy to have less consumers that always pay than 2x as many and 20% struggling that just escalates core costs of providing the service. I would consider that the BoD are delivering on thier mission, what more can you ask?
As for competition that's a given, and it's actually great to have as it promotes innovation of services, something lm sure IOU are constantly reviewing and actioning. Just look at the marketing via influencers, the IDSB purchase just in time for the new bank alliance. I believe there is more to come and think travel related whale merchant may be next. (For small growing SME's for instance). 6 months old and fastest growing, some here need to think of where they were at 6 months old (prob stucking dummies). Wake up n smell the roses ffs.
2022 will define the path, by April we should know just how much faster we are growing in relation to market opportunities.
Stig
My musings only, please do your own research.
(20min delay)