A huge deal, with 15,000 merchants to be on-boarded in Malaysia alone in 2021. This single deal is 20% of the total of APT's merchants, and we still have to figure in the EasyStore and iPay merchants (I think this was done last week, and we now have similar numbers to Z1P and APT etc).
The most important thing I have taken away from the announcement is that the entering into of a strategic agreement with MYPI means this deal will be used as a way for IOU to expand their physical footprint into other countries in South East Asia (Indonesia, Cambodia, Philippines etc). It is clear that the initial focus is Malaysia, but that is just the start of the partnership.
They can then use the digital footprint of EasyStore and Ipay for online shopping in these countries, and that way have the in-store and online market covered.
Either way, it is good to see that IOU are providing regular partnership announcements, with each one being of huge significance. Will be interesting to see whether their next announcement is an operational update or a partnership update in Indonesia - given the soft launch is to commence their soon, I am guessing a potential Indonesian partnership announcement.
A huge deal, with 15,000 merchants to be on-boarded in Malaysia...
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