mylo is introducing a new feature called InstaPay, which allows for seamless installment payments

mylo, a fintech startup spun off from B.TECH, has announced the launch of a new feature that allows customers to easily pay their installments via the InstaPay app using their mobile phone number, ID number, or registered company code, ensuring a seamless and convenient user experience.

This move is part of the company’s strategy to provide instant and secure digital payments, reflecting its ongoing commitment to offering more flexible and user-friendly financial solutions. With this move, mylo aims to meet customers’ everyday needs by providing convenient payment methods tailored to their dynamic lifestyles.

This initiative also helps integrate non-bank financial services more seamlessly into everyday life by making mylo’s services available to a wider group of users seeking innovative digital financial solutions. This allows customers to manage their payments more effectively, while saving time and effort compared to traditional payment methods.

Mohamed Khattab, CEO of mylo, stated that offering installment payment options through the InstaPay app represents an important step toward providing customers with a smoother and more flexible payment process through integration with a popular digital platform. He said:

“Enabling customers to make payments through the app gives them greater control over managing their financial obligations—easily and at any time—providing them with a convenient way to handle their daily financial transactions, which saves them time and effort.” – Mohamed Khattab, CEO, mylo

“Thanks to the in-app installment payment service, customers gain greater control over managing their financial obligations—they can do so easily and at any time, which is a convenient solution that saves time and effort when carrying out everyday financial transactions.”

– Mohamed Khattab, CEO, mylo

It is worth noting that mylo is one of the first consumer finance companies in Egypt to receive approval from the Financial Regulatory Authority for full digital registration and a fintech license. The company offers flexible installment plans for up to 48 months and access to a network of over 5,000 brands across more than 15 different categories, thereby supporting more informed and responsible shopping habits.