IOU Pay (Asia) Sdn Bhd (IOUpay) has officially
launched its refreshed myIOU Buy Now Pay Later (BNPL) app, dubbed as the myIOU
App 2.0 with a new refined interface for easy navigation.
The launch of the enhanced app is apt as myIOU
gears itself for the rapid growth of the BNPL market and the increasing switch
to cashless transactions in Malaysia.
myIOU is a BNPL platform by IOU Pay (Asia) Sdn Bhd,
a full subsidiary company of IOUpay Limited listed in Australia since 2014
(ASX: IOU). The fintech company has 20 years of experience in mobile banking
and digital payment space, serving 20 leading Malaysian banks, insurer, telco
and corporate brands in Malaysia and Indonesia.
According to Gwen Khor, Head of Marketing for
IOUpay, Malaysia remains a key driver for BNPL growth; as it registers a
substantial rise in its user and merchant base since its soft launch in June
last year. The user base for myIOU has grown to 52,000 users from 1,500 users.
Furthermore, the merchant base has also increased. To date, myIOU has more than
1,000 active merchants that operate in more than 3,000 physical and online
stores nationwide, ranging from fashion, automotive to electronics &
gadgets. Renowned myIOU merchants include Senheng, Hewlett Packard, Neal’s Yard
Remedies, Box of Bricks, Darson Electronics, Lazo Diamond, Wah Lee, 5 Star
Fitness, The Guitar Stores, Clock Family and Artisan Creative Studio.
“The fastest-growing user base is attributed to the
benefits that myIOU offers, e.g. flexible zero interest monthly installments of
two, three or six months” said Khor. myIOU allows consumers to utilize either
debit or credit card for the BNPL service. With a simple registration,
consumers are granted instant credit approval of RM1,000 and may increase the
credit limit up to RM10,000.
myIOU’s new interface is introduced with the
minimalist design to enhance user experience and the refined interface allows a
more instinctive navigation. The new design enables easier access to available merchants or brands across all
categories for a better shopping experience. In addition, promotions and
rewards are highlighted to increase its visibility to consumers.
In conjunction with the launch of myIOU App 2.0, a
5-day roadshow will be held at IOI City Mall, Putrajaya to promote the new app
from 16 – 20 March 2022. The roadshow features myIOU’s merchants which include
All IT Hypermarket, Gintell and Brooks. Everyone is welcome to immerse
themselves in a delightful state-of-the-art shopping experience using the app
at merchants’ booths and also to engage in various exciting games.
IOUpay has also announced its 2022 partnership with
an internationally celebrated Hong Kong artiste, Priscilla Wong, and local
actor Syafiq Kyle as the new face of myIOU.
Priscilla Wong is a top TVB actress and television
host who has gained popularity amongst viewers in South East Asia since 2012.
“Malaysia is my second home, I still keep in touch with people and things
around here. I hope the way of spending smartly using myIOU can be extended to
all my fans,” Priscilla commented.
Syafiq Kyle is a homegrown celebrated actor and a
model for several international fashion brands, including MSGM, Hackett London
and Salvatore Ferragamo. “After a few months of using the myIOU app, it has
helped me a lot in managing my expenditures, specifically by making
interest-free purchases and splitting payments up to 6 months,” said Syafiq.
The new ambassadors are chosen to be the one for
myIOU due to their influential power in today’s consumer market. They will be
representing myIOU in their major marketing campaigns and also to share the
benefits of using myIOU with their fans. The upgraded experience of myIOU is
currently on Google Play & App Store.
Merchants who are interested to sign
up for the BNPL offerings for their customers can browse through myiou.com for
more information.
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