myIOU, a best-in-class Buy Now Pay Later Service, is Set to Launch Soon in Malaysia

myIOU, a Buy Now Pay Later (BNPL) service by IOUpay will make its launch in Malaysia on 15 June 2021.
pay later Consumer Banner
The launch of myIOU will be able to help consumers who want to be satisfied with not just what they buy, and the price they pay, but also how they pay. myIOU offers a range of repayment options; 2, 3 or 6 repayment plans at 0% interest rate to extend even greater flexibility for consumers and merchants.

This new BNPL option can help meet consumer and merchants’ expectations for diverse payment options by giving consumers a more transparent, budget-friendly and responsible way to pay for large-ticket items and help merchants boost their sales and ultimately improve customer experience.

myIOU is expected to provide seamless and secure digital transactions experience and become financial companion to Malaysian consumers and merchants, to accommodate the ever growing cashless market in Malaysia and SEA.

Enjoy

MYR10

OFF Your First Transaction

USE CODE: MYIOU10
*Valid for new users only & first 50,000 redemptions.
Terms & conditions apply.
MYIOU10 voucher

Instant Credit Approval worth RM1,000 for Consumers and Zero Sign-up Promo for Merchants

After successful registration with myIOU, you will receive instant credit approval of RM1,000 that can be used for purchases from IOUpay approved merchants. With the unveiling of myIOU, IOUpay is also introducing myIOU Credit+ and myIOU Merchant+. As consumers, you can increase your credit limit up to RM10,000 if you sign-up with myIOU Credit+.

As for merchants, myIOU Merchant+ offers merchants the ability to provide additional credit limit up to RM10,000 to eligible myIOU Credit+ consumers for a one-time purchase.

As part of its launch promotion, myIOU will give instant discount of RM10 for new user’s first transaction using “MYIOU10” voucher code and referral reward of RM5 for every successful referral to friends and family. That’s for consumer, but what if you are a merchant?

For merchants, myIOU offers zero sign-up promo with waiver of one-time setup fee and first year annual maintenance fee worth RM1,000 and reduced merchant discount rates (MDR) with estimated savings worth up to RM1,000.

Extra Convenience

myIOU accepts credit and debit card payments, adding extra options and convenience for the consumers. Payment will be automatically debited from your card every month based on chosen repayment plan upon checkout.

How myIOU Works?

1

Select myIOU when shopping online or scan QR code with myIOU app at in-store merchants.

2

Confirm transaction details and complete your initial payment*. Remaining balance of total purchase will be split into monthly instalments.

3

Your card binded to myIOU will be charged automatically every month for the remaining instalments.

*Depending on merchants, you may or may not need to complete the initial payment. Instead, payment is only made during each instalment’s due date.

How to pay with myIOU?

  1. Select myIOU when shopping online or scan QR code with myIOU app at in-store merchants.
  2. Confirm transaction details and complete your initial payment. Remaining balance of total
    purchase will be split into monthly instalments.
  3. Your card binded to myIOU will be charged automatically every month for the remaining
    instalments.

Registration Requirements for Consumers

  1. At least 18 years and above
  2. Malaysian NRIC (MyKad) holder
  3. Credit/debit card issued by Malaysian financial institutions
  4. Malaysian mobile number and email address

About IOUpay

IOUpay (ASX:IOU) provides fintech and digital commerce software and services in Malaysia and South East Asia (SEA). Their services enable institutional customers to securely authenticate end- user customers and process banking, purchase, and payment transactions.

The company has structured its operations into three business divisions, which represent Mobile Banking, Digital Payments and Digital Services, servicing 20 leading Malaysian banks, insurers, telcos and corporates in Malaysia and Indonesia. IOUpay facilitates large consumer communities to extend their information technology applications to any mobile device and integrate mobile technology throughout their existing businesses through their proprietary IOUpay platform.

IOUpay’s business is focused on continuing to build our merchant networks and transaction volumes to expand into higher value-added purchase and payment services for their end-user customers. This includes uniquely packaged and discounted product and service offerings for big customer communities and smart short-term revolving Buy Now Pay Later (BNPL) instalment offerings.

Get the App