In a strategic move to redefine the digital payment landscape in Egypt, mylo, the leading fintech venture under B.TECH, has officially announced the launch of its new payment feature.
This update allows customers to settle their due installments directly through the InstaPay financial services app, ensuring an instant, secure, and frictionless experience.
Seamless Integration for Modern Lifestyles
The integration of mylo InstaPay installment payments is designed to meet the growing demand for flexible financial solutions. Users can now complete their transactions using simple identifiers such as their registered mobile number, National ID, or a dedicated company code.
This eliminates the need for complex bank transfers or physical visits to payment kiosks, aligning perfectly with the fast-paced nature of modern consumer habits.
This step is a core component of mylo’s broader strategy to provide instant digital payment experiences. By leveraging the National Instant Payment Network (InstaPay), mylo ensures that every transaction is encrypted, verified, and processed in real-time, offering peace of mind to its expanding user base across Egypt.
Strategic Vision from mylo Leadership
Mohamed Khattab, CEO of mylo, emphasized that this partnership is a significant milestone in the company’s digital transformation journey.
“Enabling installment payments via the InstaPay app represents a vital step toward delivering a more seamless and flexible experience through integration with a widely used digital platform,” Khattab stated.
He further added: “Providing the service of paying installments through the app gives our customers greater control over managing their financial obligations easily and at any time.
This convenience saves valuable time and effort, allowing our users to focus on what matters most while maintaining their financial health.”
Leading the Way in Egyptian Fintech
It is worth noting that mylo stands as a pioneer in the Egyptian market, being among the first consumer finance companies to obtain full digital registration and a fintech license from the Financial Regulatory Authority (FRA).
This regulatory backing, combined with mylo InstaPay installment payments, positions the company at the forefront of the financial inclusion movement.
Currently, mylo offers a diverse range of services, including:
- Flexible Installment Plans: Terms extending up to 48 months to suit various budget needs.
- Massive Merchant Network: Access to over 5,000 brands across 15+ different retail categories.
- Responsible Spending: Tools and plans that encourage conscious consumer behavior.
Impact on Non-Banking Financial Services
By making credit management as simple as sending a text message, mylo is contributing to the deeper integration of non-banking financial services into the daily lives of Egyptians. This move is expected to attract a wider demographic of tech-savvy users who seek innovative, digital-first financing solutions that bypass traditional banking hurdles.
About mylo
mylo is a leading fintech provider in Egypt, born out of B.TECH’s extensive market expertise. The company is dedicated to providing innovative consumer finance solutions that empower individuals to manage their purchases responsibly. With a focus on digital-first services and a vast network of partners, mylo continues to shape the future of fintech in the region. For more information, visit the official mylo digital platforms.
