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    Brief: Ovanti Exits BNPL And Announces Cost Cuts

    Picture of Ovanti logoOvanti
    20/08/2026 02:35
    BRIEF-Ovanti Exits BNPL And Announces Cost Cuts
    Aug 20 (Reuters) - Ovanti Ltd OVT.AX:
    • EXITS BNPL AND COST CUTS
    • OVT TO CEASE ALL BNPL ACTIVITIES GLOBALLY
    • WILL NOT PROCEED WITH PREVIOUSLY PROPOSED RELAUNCH OF IOUPAY OR MYIOU IN ASIA
    • PROCEEDINGS AGAINST FORMER U.S. BNPL CEO ARE EXPECTED TO COMMENCE IMMINENTLY
    • NOW FOCUSED ON  GROWING ITS LONGSTANDING ISENTRIC BUSINESS
    • IMPLEMENTED SUBSTANTIAL COST REDUCTIONS AFTER CLOSURE OF US BNPL BUSINESS, INCLUDING REDUCTIONS IN EMPLOYEES SUPPORTING FORMER US OPERATIONS
    Further company coverage: OVT.AX

     ((Reuters.Briefs@thomsonreuters.com;))

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