Highlights:

  • Ovanti (ASX:OVT) shares traded flat at AUD 0.0020 during the morning Trading session on 20 August 2026.
  • The company has completed a strategic review and will cease all buy now, pay later (BNPL) activities globally.
  • Ovanti will not proceed with the previously proposed relaunch of IOUPAY or myIOU in Asia.
  • The company’s iSentric Business generated approximately AUD 3.58 million in FY26 Revenue and is now the core business focus.
  • Ovanti has implemented cost reductions following the closure of its United States BNPL operations.

Ovanti Limited (ASX:OVT) has completed a strategic review and announced a global exit from the buy now, pay later (BNPL) sector as the company shifts its focus towards its established iSentric operations.

Ovanti shares traded flat at AUD 0.0020 during the morning trading session on 20 August 2026, while the company’s shares remained down 98.95% over the past year. The company’s latest update outlines a change in strategic direction, including the closure of BNPL activities across all jurisdictions, cost reductions, and a focus on expanding its digital payments and enterprise technology business.

Ovanti provides Fintech and digital commerce software solutions, including mobile banking, authentication, digital payments, transaction processing, and enterprise technology services through its Asian operations.

Ovanti Completes Global Exit From BNPL

Following its strategic review, Ovanti’s Board has resolved to cease all BNPL products, operations, and opportunities across every jurisdiction.

The company said the review considered the performance, Capital requirements, risk profile, and commercial prospects of its BNPL activities. Based on this assessment, Ovanti determined that continued Investment in BNPL was not in the best interests of shareholders.

The decision also means Ovanti will not proceed with the previously announced staged relaunch of IOUPAY or myIOU in Asia. The company confirmed that no further capital will be allocated towards restarting or expanding BNPL operations.

Ovanti’s United States BNPL entity remains subject to Chapter 7 proceedings under the United States Bankruptcy Code, with the company continuing to cooperate with the process as required.

Cost Reduction Measures Implemented Across Group

As part of the strategic reset, Ovanti has implemented cost reductions following the closure of its United States BNPL operations.

The measures include reductions in employees and consultants supporting the former US operations, elimination of non-core expenditure, and reduced reliance on external consultants across the broader Group.

Ovanti said a substantial proportion of costs associated with the former United States operations has been reduced or eliminated.

The company stated that the lower cost base is intended to support a more focused approach towards revenue-generating opportunities.

iSentric Becomes Core Business Focus

Following the exit from BNPL, Ovanti will focus exclusively on growing its longstanding iSentric operations.

The iSentric business provides mobile banking, authentication, digital payments, transaction processing, and related enterprise technology services to banking, telecommunications, and corporate customers across Asia.

The business generated approximately AUD 3.58 million in revenue during FY26, providing Ovanti with an existing revenue-producing platform.

The company said its immediate priorities include expanding services to existing customers, securing new institutional customers, and pursuing opportunities with a clear pathway to revenue generation.

Focus Shifts Towards Southeast Asian Opportunities

Ovanti said it has exited the United States market to focus on its Southeast Asian operations, where it sees opportunities to expand iSentric services.

The company’s updated strategy centres on growing existing operations rather than allocating further capital towards BNPL activities.

Management has been directed to prioritise opportunities capable of increasing revenue from the company’s existing technology and digital payments operations.

Legal Proceedings Against Former US BNPL CEO

Ovanti has also engaged external lawyers and is preparing formal legal proceedings against Peter Maher, the former CEO of its United States BNPL business.

The company said proceedings are expected to commence imminently, with Ovanti seeking recovery of losses, damages, costs, and other available relief.

Ovanti is also reviewing the directors’ and officers’ insurance arrangements maintained by the United States entity to assess whether any policy may respond to potential claims or judgments.

The company noted that the availability and extent of any insurance response have not yet been determined.

Investor Takeaway

Ovanti’s strategic review has resulted in a complete exit from BNPL operations and a renewed focus on its iSentric business, which generated AUD 3.58 million in FY26 revenue. The company is targeting cost reductions and revenue opportunities through its established digital payments and enterprise technology operations.

Investors may continue to monitor the execution of the new strategy, expansion of iSentric services across Asia, progress of legal proceedings, and the company’s ability to grow its existing revenue base.