Stockhead's recent article follows iSentric's (ASX: ICU) IOU Pay Platform, and as a result of "dynamic improvements" to this service. ICU saw a 35% increase in it's share price in early trade on Monday. In Australia, the Buy Now, Pay Later (BNPL) market continues to boom amidst the COVID-19 pandemic as consumers flock to online sales. Around 30 per cent of Australians have an account with a BNPL provider, equivalent to 5.8 million people.
The IOU Pay Platform introduces ICU to new market opportunities across the digital payments and mobile banking sectors. The improvements include the ability to process consumer loan payments through bank account debiting, credit and debit cards, and connects with banks’ credit scoring and customer authentication functions.
"IOU Pay Platform processes more than 17 million online payments and consumer interactions every month, producing a recurring revenue flow for the company".
Read the full article here.
To learn more about iSentric, the extensive mobile banking and digital payments sphere:
