Ovanti (ASX:OVT) said that its board on Sunday approved a plan for the expansion of its buy-now, pay-later product in the US, according to a Monday Australian bourse filing.
The product is expected to launch within the year, and it will focus on the largest and highest-use buy-now, pay-later territory opportunities in the US in the southern states.
The firm will launch differentiated products in the US market, seeking to provide access to credit for consumers who are underserved by traditional offerings.
The firm is eyeing reaching the milestone of $500 million in total transaction volumes from the plan.
Its shares fell 27% on market close on Monday.
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