As part of its strategy to provide an instant and secure digital payment experience, mylo, the fintech venture that grew out of B.TECH, announced the launch of a new feature allowing customers to easily pay their due installments through the InstaPay financial services app. This move is part of the company’s broader plan to expand payment channels and enhance its range of services.
The new feature enables customers to complete installment payments using their mobile number, national ID, or a registered company code, ensuring a smooth and seamless user experience through the InstaPay application.
This step aligns with mylo’s ongoing strategy to deliver instant and secure digital payment solutions, reflecting its commitment to offering more flexible and user-friendly financial services. Through this initiative, the company aims to meet customers’ daily needs by providing convenient payment methods that match their fast-paced lifestyles.
The initiative also contributes to further integrating non-banking financial services into everyday life, making mylo’s offerings accessible to a wider base of users seeking innovative digital financing solutions. It allows customers to manage their installments more efficiently while saving time and effort compared to traditional payment methods.
Mohamed Khattab, CEO of mylo, stated that enabling installment payments via the InstaPay app represents an important step in the company’s direction toward delivering a more seamless and flexible payment experience through integration with a widely used digital platform.
He added: “Providing the service of paying installments through the app gives customers greater control over managing their financial obligations easily and anytime, offering them a convenient way that saves time and effort in carrying out their daily financial transactions.”
It is worth noting that mylo is among the first consumer finance companies in Egypt to obtain approval from the Financial Regulatory Authority for full digital registration and a fintech license. The company offers flexible installment plans of up to 48 months, with a network of more than 5,000 brands across over 15 different categories, supporting more conscious and responsible spending habits.
