Fintech Player IOUpay (ASX:IOU) Ropes In New Board Member

January 12, 2021 12:23 PM AEDT | By Team Kalkine Media
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  • IOUpay has bolstered its leadership team with the onboarding of Mr Byung Moo Shin, a commercial lawyer by profession.
  • Mr Byung Moo Shin comes with the institutional investment, financial technology, and direct Asian market experience.
  • The Company aims to become a leader in the SAE digital payments space.

SEA-focused fintech player IOUpay Limited (ASX:IOU) has made a significant addition to its Board of Directors. The Company has appointed Mr Byung Moo Shin, a commercial lawyer by profession, as a Director to its Board, starting from 11 January 2021.

INTERESTING READ: Get Acquainted with High-Calibre Leadership Team at IOUpay Limited

IOU Makes Notable Addition To The Leadership Team

Being a lawyer, Mr Shin holds an LLB, Bachelor of Commerce and Bachelor of Laws from The University of Sydney. He was admitted as a Lawyer of the Supreme Court of New South Wales in 2012 by the NSW Legal Profession Admission Board.

He specialises in asset management and institutional investment, particularly inbound and outbound South Korean investment across several industries.

Mr Shin shares strong enthusiasm for the fintech sector. He has been engaged in senior executive roles at Hangang Asset Management and Trihill Partner Investment Management in Manhattan, New York and Seoul, South Korea.

DID YOU READ: IOUpay (ASX:IOU) Weathers COVID-19 Storm With A Slew Of Milestones

The Company is expecting to leverage his extensive experience in the industry to add to the strength, skill sets, and experience of its Board. IOUpay Chairman Lee Chin Wee stated that the appointment of Mr Shin to the Company’s Board of Directors comes at a critical phase in IOU’s growth and expansion.

He added that the experience of Mr Shin in institutional investment, financial technology as well as direct Asian market reflects three key domains for the focus of the Board and the Company.  

Did you read: IOUpay (ASX:IOU) Going Great Guns in Malaysia 

IOU Growth and Expansion

IOU has the goal of becoming one of the leading players in the digital transaction processing space in the high opportunity South East Asian market.

The Company has recently reported multiple merchant service agreements with major parties, including payment gateway providers and a leading Malaysian bank. These MSAs would enable the Buy Now Pay Later (BNPL) transactions of its customer base, to be supported by credit and debit card payments.

IOU has also introduced several enhancements to its IOU Pay Platform as well as service offerings.

Appointment of Mr Byung Moo Shin boasting of experience in the three key domains for the Board and the Company focus seems significant for IOUpay, as it progresses towards its goal of becoming a fully integrated financial service provider for big brand merchants and their customers in the SEA market.

Interesting Read: IOUpay Limited (ASX:IOU) eyes dominance in SEA Digital Payment Market

Stock Performance

IOU traded at $0.150 on 12 January 2021 (AEDT 11:08 AM), moving upward by 3.448% from its previous close. The Company has a market capitalisation of $65.31 million.



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