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IOUpay (ASX:IOU) on high growth trajectory with myIOU BNPL platform  

Highlights

  • IOUpay has been working against the clock to expand the reach of its unique offerings across South East Asia (SEA).
  • The Company has implemented a digital marketing strategy to expand its reach and engagement with both businesses and consumers in Malaysia.
  • IOU continues to tap growth opportunities as the general outlook for e-commerce remains favourable.

After kick-starting the new financial year on a high note, IOUpay Limited (ASX:IOU) has continued to push towards growth with a progressive increase in transactions processed through its myIOU platform. By mid-August 2021, the Company had registered nearly AU$3.5 million worth of transactions through the platform.

myIOU is a newly launched buy now, pay later (BNPL) platform and service offering, which has witnessed a significant uptick in consumer and merchant signups since its public launch in June. Significantly, as at 16 August 2021, 1,492 merchants signed and 1,408 merchants onboarded the service, while 7,372 consumers have downloaded the app.

To further boost the growth momentum, the Company has been investing in building the brand and increasing product awareness through promotional campaigns via digital modes across Malaysia.

RELATED ARTICLE: IOUpay secures Malaysian celebrity Yuna as brand ambassador for myIOU BNPL service

IOU implements digital marketing strategy 

IOU has adopted a sophisticated digital marketing strategy (DMS), targeting key cultural, demographic groups in Malaysia.

In order to drive awareness about its myIOU service offering, the Company has engaged with 14 selected social media influencers with substantial followers. More importantly, these influencers align with the Company’s brand values.

Source: Copyright © 2021 kalkine Media

RELATED ARTICLE: Crucial partnerships, BNPL revenue: IOUpay sees action-packed June quarter

Another key development was the onboarding of Yuna, an award-winning global singer-songwriter, as the Face of myIOU.

This move by IOU might play a significant role as the selected influencers and Yuna collectively have more than 10 million followers.

IOU expects additional opportunities

IOU expects to capitalise on Yuna’s wide reach and connections as she has more than one million followers on social media. She can be instrumental in helping the Company expand its user base and connection with domestic consumers and businesses in the Southeast Asia region.

IOU is targeting specific groups of consumers and merchants through the content designed under the marketing campaign and deployed across different platforms and channels. The Company remains optimistic that these consumers and merchants would benefit from and engage with its myIOU BNPL offerings.

RELATED ARTICLE: IOUpay (ASX:IOU) deepens Malaysian footprint with RMS Reloads deal

Source: © Andreus | Megapixl.com

RELATED ARTICLE: What’s behind IOUpay’s (ASX:IOU) whopping 11X rally during FY21?

IOU anticipates further opportunities for growth in revenue across various business segments, based on the strong interest indicated by small businesses and enterprises during promotional activities.

In essence, IOU continues to tap growth opportunities and potential partnership options to achieve the critical milestone of becoming a cashflow positive BNPL business. The Company believes that the general outlook for e-commerce remains favourable, as suggested by the notable growth in the number of transactions processed through its BNPL platform.

RELATED ARTICLE: IOUpay (ASX:IOU) bolsters its leadership team to expand BNPL offering

IOU stock was trading at AU$0.280 on 2 September 2021 (AEST 11:17 AM), up 1.818% from its last close.

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