Business
Why the IOUpay (ASX:IOU) share price jumped 11% higher today
The IOUpay Ltd (ASX: IOU) share price was a strong performer this morning until fading in afternoon trade.
The payments company’s shares were up as much as 11.5% to 19.5 cents at one stage.
In late trade, the IOUpay share price is up 3% to 18 cents.
Why did the IOUpay share price jump higher?
Investors were buying the company’s shares this morning after the release of a positive announcement.
According to the release, IOUpay has secured a Malaysian Money Lending Licence which is required to comply with Malaysia’s Money Lending Act 1951 and Financial Services Act 2013. This licence will be used for the provision of buy now pay later (BNPL) service offerings to consumers and merchants in Malaysia.
The company secured the…
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