The potential for IOU to make money is staggering. While they...

The potential for IOU to make money is staggering. While they have previously only been responsible for providing a service to process transactions for other merchants and banks, they will now be providing their own service through the same existing partnerships, this will open up the door to much higher margins of sale. Assuming a model similar to Zip pay where it derives most of its money from merchant/transaction fees.
Here is a back of the napkin comparison using Zip Pays last YTD trading update.

ZIP Pay:
July - october = 7.7 million transactions (2.56million per month)
$1.3billion transaction volume (433million / month)
97 million revenue (32.3 million monthly)
4.8 million customers
36.5k retail partners

IOU pay:
17 million transactions / month
- (transaction volume not disclosed)
6 million revenue
250000+ merchantstop 20 banks in Malaysia as well as large telcos and corporates in Malaysia and Indonesia.

IOU pay currently process 17 million transactions for many merchants per month. If we see even 1% of that swap over to BNPL transactions at 170000 transactions per month we'd be looking at roughly $2 million/month revenue based on a side byside comparison with Zip. For each percentage point increase in uptake of the product we'd be looking at an extra $2million per month. Large customer adoption of the product is likely as their existing partners rollout the product, these include the largest e-wallet in Malaysia as well as the top 20 banks.
Until we get some real numbers it's all just speculation and the business model won't run exactly like ZIP pays. The potential upside is there though and the current management seem onto it and capable of making it happen with years of experience behind them.
(disclaimerThis is a quick estimation using numbers I could find in a short amount of time googling, so it will be worth getting your own numbers and doing your own research.

GLTAH