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Getting Started

Buy Now Pay Later (BNPL) is a digital payment solution that gives you the opportunity to buy something without having to make full payment for it until a later date. BNPL allows you to split your purchases into several interest-free payments paid over time.
  • Add your item(s) into shopping cart.
  • Select myIOU as payment method.
  • You are required to make initial payment upon purchase and split the remaining balance into monthly instalments according to tenure.

  • Pick your desired item(s) in store.
  • Scan QR code with myIOU app.
  • You are required to make initial payment upon purchase and split the remaining balance into monthly instalments according to tenure.
With myIOU, you can split your purchases into affordable monthly instalments (up to 6 months) with zero interest to pay. myIOU doesn’t affect the available balance on any particular credit card. myIOU also allows you to pay with debit card.

Credit card instalments reduce the available credit limit on a person’s credit cards. Moreover, not all credit companies offer instalment payment plans.
myIOU is a free service offered by merchants to you with no additional fee or interest charged. However, late payment fees will be imposed if subsequent payments are not made by due date.

I am

  • Consumer
  • Merchant


  • At least 18 years old and above
  • A Malaysian NRIC (MyKad)
  • Credit/debit card issued by Malaysian financial institutions
  • Malaysian mobile number & email address

To validate users’ identity, we require a front and back photo of your MyKad at sign up to prevent any misuse of identity or funds.

Sensitive information such as phone number and email will be encrypted and shown with masking both when displayed and stored, protected with PDPA.

At IOUpay, we take your privacy and data security very seriously. Our privacy policy explains how we collect, use, disclose and safeguard any personal data you provide to us.

myIOU accepts both debit and credit cards (Visa or MasterCard) issued by Malaysian financial institutions.

At the moment, we don’t accept the following type of cards:
  • American Express (AMEX)
  • Japan Credit Bureau (JCB)
  • UnionPay
  • Discover
  • Diners Club
For new applications, your account will be approved upon completion of the application process subject to terms and conditions.
Please try to resubmit the application with the correct verified documents and valid credit card or debit card.

You can use myIOU at any online and in-store merchants authorised by IOUpay. You can check the list of authorised merchants on our website at www.myiou.com/stores, myIOU app and on the respective merchants’ website or store.

An instant approval of MYR1,000 credit limit.


Instant approval of MYR1,000 credit limit will be granted between 9am – 10pm (including Sat, Sun & public holidays). Credit limit will be MYR0 between 10pm-9am and will be approved within 48 hours.

You may need to refresh the connection between your phone and your mobile carrier. Please try:
  • Turning your phone off and on (or restarting if possible)
  • Turning airplane mode on and off
  • Removing and re-inserting your SIM card
  • Currently, myIOU app is not available on Huawei and Honor devices without Google Play Services. Please click here to see the list of devices not supported.

    Credit Limit

    You can increase your credit limit up to MYR10,000 by signing up for myIOU Credit+ through myIOU app subject to terms and conditions.

    Complete application with:
    • Latest one (1) month credit card statement
    • Latest one (1) month income crediting bank statement
    • Any one (1) proof of residential address (Example: Utility bill or proof of delivery with valid shipping address from any E-commerce platform)
    Requests made before 12:00pm together with complete required documentations will be processed on the same day and requests made after 12.00pm will be processed on the next business day.
    The maximum credit limit per account is MYR10,000 subject to terms and conditions.
    You can perform as many transactions as you like provided you do not exceed the available credit limit in your myIOU app.
    You can purchase as much as you like provided you do not exceed the available credit limit in your myIOU app.

    Initial, Subsequent and Late Payments

    You will need to complete the initial payment upon check out after confirming the transaction details.
    Remaining balance of total purchase will be split into monthly instalments and will be charged monthly depending on the tenure agreed by the merchant. Your card binded to myIOU will be charged automatically every month for the remaining instalments.

    2, 3 or 6 monthly payments. Tenure adopted by merchants varies.

    myIOU will send a notification via myIOU app, SMS and email. Your account will be suspended from performing transactions until outstanding payments are resolved.

    A late payment fee will be imposed for overdue payments.
    For overdue payments, you will be charged a late payment fee of MYR5 or 1% on outstanding amount (whichever is higher).
    You will receive a reminder via myIOU app, SMS and/or email within 3 business days before your next subsequent payment is due.
    The card for subsequent payment cannot be changed. However you can use a different card for new transaction.

    You can reset your payment pin through myIOU. For assistance, please drop an email to support@ioupay.com or call us at +603-7733 5500 during hours below:


    Mon – Fri : 8am – 11pm

    Sat/Sun/Public Holiday : 10am – 11pm

    Cancellation, Refund & Dispute

    The delivery and quality of the products and services purchased is always the responsibility of the merchants. Please reach out directly to the merchant where you purchased your product or service for any cancellation and refund.
    Please contact the merchant to request for a full refund, and it is subject to the merchant's cancellation and refund policy.
    Once your refund has been processed, you will receive a notification via email and the refunded amount will be released to your original payment method within 14 business days.
    Once you have returned the product(s) to the merchant(s), it may take a few days for them to inspect, process and ensure that the returned goods meet their cancellation and refund policy requirements.

    Card Lost / Fraud

    If you have a payment due to us, do contact us immediately at support@ioupay.com or call us 03-7733 5500 for further assistance during hours below:


    Mon – Fri : 8am – 11pm

    Sat/Sun/Public Holiday : 10am – 11pm


    Please take note that you will not be able to make a new transaction until the new card is registered.


    You may send your enquiry to hello@ioupay.com , our professional team will contact you to provide further support.

    Cancellation, Refund & Dispute

    A. Online Merchant

    IOUpay will direct all enquiries from consumers, regarding return of goods, void or refund to the merchants. For privacy purposes, IOUpay is unable to issue a void or refund to consumers on behalf of merchants.

    IOUpay will only process void or refund following the instruction from merchants via the BNPL Merchant Portal.

    Full Refund
    Any refund which is of full order amount is considered as a full refund.

    IOUpay will automatically cancel the consumer's subsequent payment schedule so that the consumer is no longer charged. If the consumer has made any payments, IOUpay will process a refund back to their original payment method.

    Partial Refund
    Any refund other than the full order amount is considered a partial refund.

    IOUpay will automatically update the consumer’s subsequent payment schedule by reducing the instalments or processing a refund back to the consumer’s original payment method where required. The refund is applied to the final instalment first and works backward.

    B. In-store Merchant

    Merchants can contact our support team directly via support@ioupay.com. Please provide transaction ID and proof of payment from the customer.


    Please email to support@ioupay.com. Our support team will reply to your enquiry within 2 working days. Alternatively, you may contact our support line at 03-7733 5500 during operating hours.

    Our support team will be available during hours below:


    Mon – Fri : 8am – 11pm

    Sat/Sun/Public Holiday : 10am – 11pm