Total
0
Shares
IOUpay (ASX:IOU) - Executive Chairman, Aaron Lee
Executive Chairman, Aaron Lee
Source: Listcorp
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Buy now, pay later (BNPL) company IOUpay (IOU) posts a “strong” first half of the December quarter result, over the period from October 1 to November 14
  • For the first half over $3.1 million in total transaction value has been realised, delivering around $306,000 in net transaction revenues
  • There is also strong growth in consumer and merchant since September 30, with 2613 merchants onboard, a 13 per cent increase
  • There has been a delay in the IDSB purchase due to COVID-19 restrictions
  • On the market this morning, IOU is down 4.76 per cent, trading at 20 cents per share

IOUpay (IOU) posts a “strong” first half of the December quarter result, over the period from October 1 to November 14.

The company has seen continued strong margins of myIOU buy now, pay later transactions.

For the first half over $3.1 million in total transaction value has been realised, delivering around $306,000 in net transaction revenues.

There is also strong growth in consumer and merchant since September 30, with 2613 merchants onboard, a 13 per cent increase, and 1182 merchants system activated and listed on myIOU, up 25 per cent.

So far, over the December quarter, there were 28,370 consumer downloads of myIOU, up 67 per cent since the end of September and 8201 consumers activated their accounts, up 71 per cent.

In September, the company agreed to purchase a stake in a Malaysian finance business, I.Destinasi Sdn Bhd (IDSB) for $41.3 million.

IOU has agreed to buy a 43 per cent interest in the long-term, instalment-based credit company.

However, this purchase has been delayed due to one remaining condition precedent that is to be satisfied with a third party. The delay has been due to a meeting not being conducted due to local COVID-19 restrictions.

On the market this morning, IOU was down 4.76 per cent and is trading at 20 cents per share at 11:12 am AEDT.

IOU by the numbers
More From The Market Herald
icetana Limited, ICE - CEO, Matthew Macfarlane

" icetana Limited (ASX:ICE) signs Memorandum of Understanding with Threat Protect (ASX:TPS)

icetana Limited (ICE) has signed a memorandum of understanding with Threat Protect Australia (TPS).
Pan Asia Metals (ASX:PAM) - Managing Director, Paul Lock

" Pan Asia Metals (ASX:PAM) announces latest drilling results from Reung Kiet lithium project, Thailand

Pan Asia Metals (PAM) has released lithium drill results for four holes from its Reung Kiet project in southern Thailand.
APM (ASX:APM) - CEO, Michael Anghie

" APM Human Services (ASX:APM) expands, acquiring Lifecare

APM Human Services International (APM) has acquired physiotherapy and home care group Lifecare for $68 million.

" Celamin (ASX:CNL) secures commitments to raise $3.2m

Celamin Holdings (CNL) has secured binding commitments to raise $3.2 million at 7.5 cents per share. The company will issue up to 42.6...