How to buy IOUpay shares
IOU daily trading volumes increased nearly four times between Feb 9-15.
Since the start of the year, IOUpay (IOU) shares have risen from $0.20 to $0.70, showcasing significant growth of 175%.
The Malaysia-based IOUPay is a buy now pay later (BNPL) and digital banking platform that also facilitates cross-border payment transactions for its primarily South East Asian market.
After remaining at a stable price point of around $0.21 since October 2020, IOU shares have garnered huge momentum from Feb 10 with trading volume increasing from $50.3 million on Feb 9 to a whopping $222.5 million on Feb 12.
Also worth highlighting is the fact that IOU closed at $0.44 on Feb 12 and on the reopening of the market on Feb 15, its price proceeded to quickly rise to $0.82, representing insane gains of nearly 100% within a span of just 48 hours.
Lastly, IOU remained constant at $0.80 through a major chunk of the trading hours on Feb 15 only to dip slightly and then regain its day’s highs, eventually closing at $0.70.
What we know
IOU’s surge follows news of its partnership with EasyStore. For those unaware, EasyStore is an e-commerce platform on the lines of Shopify with a dominant presence across SE Asia and possessing a 7000+ strong merchant base.
Over the course of 2020, EasyStore facilitated transactions amounting to $435 million signifying its growing clout in the region, thereby giving substance to IOU’s amazing surge over the last five odd days.
The BNPL sector in itself has been on the rise since the onset of the COVID 19 pandemic, especially as more and more individuals have turned towards digital payment mediums to fulfil their daily purchase needs.
The concept of BNPL, though extremely popular in the Western world, has only just started to make inroads into the SE Asian market, with IOUpay being one of the first movers in this space (along with payments giant Afterpay), thus putting it in a prime position to rise even higher in the near future.
How to buy IOU shares
To buy IOUpay shares, you'll need to sign up with a broker that has direct access to the Australian Securities Exchange (ASX). To do this, you'll need to provide data such as personal ID and tax file number.
After funding your account, individuals are entitled to start trading in the Aussie stock market.
To buy IOU shares, simply search for the share name or ticker symbol - IOU in this case - and facilitate their purchase using a market order or a limit order.