Hi Stevet3,I don't think you quite understand the business model...

Hi Stevet3,

I don't think you quite understand the business model for IOUpay. They currently provide payment system solutions to banks and merchants, b2b. the BNPL pivot it to provide such a service. this way merchants and banks they service can provide consumers an option to 'buy now and pay later' in say 2 / 4 / 6 installments.

With the recent lending license in place (Malaysia only), this will ensure no legal repercussions and clear any doubt whether BNPL is actually an act of lending money or not (a highly contested subject, probably need another forum). In malaysia's current political environment this is important, govt can come crashing down on u. Aaron was smart to buy it outright and get it sorted, and i also think he got it CHEAP! So if you doubt his credentials, i say please take a deeper look and consider the environment he's in.