{"id":11471,"date":"2020-10-26T23:09:08","date_gmt":"2020-10-26T23:09:08","guid":{"rendered":"https:\/\/economicherald.net\/?p=11471"},"modified":"2020-10-26T23:09:08","modified_gmt":"2020-10-26T23:09:08","slug":"advisory-firm-barclay-pearce-stays-bullish-on-ioupay-after-eventful-quarter","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11471","title":{"rendered":"Advisory firm Barclay Pearce stays bullish on IOUpay after eventful quarter"},"content":{"rendered":"

Shareholders in the newly-named IOUpay (ASX:IOU)<\/a> went on a rollercoaster in the September quarter, as the company underwent key personnel changes and a shift in strategy.<\/p>\n

Q2 kicked off with a name-change (from iSentric), and October has been a good month so far with shares in the payments company climbing from 9c to a 2020 peak of 28c last Friday.<\/p>\n

And as the company looks to leverage its foothold in the Malaysian market, its advisory firm Barclay Pearce is backing the firm\u2019s regional expansion strategy.<\/p>\n

Payments for south-east Asia<\/h2>\n

In its capacity as an advisory firm, Barclay Pearce assisted IOUpay\u2019s July restructure which saw the CEO replaced while the company announced a $1.5m share placement.<\/p>\n

Shortly after, a group of shareholders lobbed a S249D notice as part of an attempt to roll the new board.<\/a><\/p>\n

But following a strong October rally in IOU shares, the 249D notice was withdrawn last Thursday.<\/p>\n

Looking ahead, Barclay Pearce analyst Russell Wright flagged further opportunities for growth in the Malaysian market in a research note released yesterday.<\/p>\n

He cited IOUpay\u2019s established position in the mobile payments market, where its IOU Pay platform \u201cprocesses over 17 million online payment and consumer interactions every month\u201d.<\/p>\n

On the B2B side, Wright said the the company serves a number of large Malaysian banks and corporate clients including Air Asia and Mazda.<\/p>\n

But it\u2019s on the consumer side where he said the main opportunity lies \u2014 providing mobile payment services to \u201cunder banked\u201d customers in Malaysia and Indonesia.<\/p>\n

\u201cMarket data indicates that consumers in Malaysia and Indonesia are ready for BNPL services, given the paucity of consumer lending and credit card solutions,\u201d Wright said.<\/p>\n

And like advanced Western economies, enforced COVID-19 restrictions in south-east Asian economies have prompted a surge in ecommerce activity, he added.<\/p>\n

At the same time, over half the populations of both Malaysia and Indonesia \u2014 with a combined population of around 300m \u2014 don\u2019t have access to banking services.<\/p>\n

Wright cited strict banking regulations as one key factor, which leaves many people ineligible for lending services.<\/p>\n

\u201cThe lack of bank credit options for smaller borrowers has left a large gap in the market.\u201d<\/p>\n

To capitalise, Wright said IOUpay has focused on developing a platform which allows its commercial partners to mine IOUpay customer data for the purpose of targeted marketing campaigns.<\/p>\n

Assessing the market opportunity, Wright has put a \u201cspeculative buy\u201d recommendation on IOU shares at their Friday closing price of 26.5c.<\/p>\n

\u201cIn a region with large under-banked populations and a systemic lack of consumer credit, this demand side growth presents the company with significant supply side upside,\u201d Wright said.<\/p>\n

At Stockhead we tell it like it is. While IOUPay is a Stockhead advertiser, it did not sponsor this article.<\/em><\/p>\n

The post Advisory firm Barclay Pearce stays bullish on IOUpay after eventful quarter<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Shareholders in the newly-named IOUpay (ASX:IOU) went on a rollercoaster in the September quarter, as the company underwent key personnel changes and a shift in [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11472,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nAdvisory firm Barclay Pearce stays bullish on IOUpay after eventful quarter - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=11471\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advisory firm Barclay Pearce stays bullish on IOUpay after eventful quarter - 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