Here’s why the IOUpay (ASX:IOU) share price is rocketing 30% higher

The IOUpay Ltd (ASX: IOU) share price has been a very strong performer on Tuesday morning.

At the time of writing, the Malaysia-based buy now pay later (BNPL) provider’s shares are up a massive 30% to 26 cents.

This leaves the IOUpay share price trading within sight of its record high of 28 cents.

Why is the IOUpay share price rocketing higher?

Investors have been buying IOUpay shares today following the release of a positive announcement.

According to the release, the company has entered into a merchant referral agreement with EasyStore Commerce. This agreement will enable EasyStore’s merchants and end-user customers to utilise IOUpay’s BNPL payment services.

What is EasyStore?

The release explains that EasyStore was…