myIOU
BNPLShariah-compliant buy now, pay later — 0% interest
Fees
| FPX (online banking) | — |
|---|---|
| Card (local credit/debit) | — |
| E-wallet | — |
| DuitNow QR | — |
| BNPL | Contact sales |
| Setup fee | RM0 |
| Monthly / annual fee | Contact sales |
| Minimum transaction | RM50 |
| Settlement | Weekly |
Features
- No-code (links/forms)✓
- Developer API✓
- Recurring / subscription—
myIOU is a Shariah-compliant Buy Now, Pay Later (iBNPL) platform operated by IOU Pay (Asia) Sdn Bhd, available for in-store and online purchases. Shoppers can split eligible purchases (priced RM50–RM10,000) into 2, 3 or 6-month instalments at 0% interest, with the available tenure set per merchant.
For merchants, myIOU charges a Merchant Discount Rate (MDR) paid to IOUpay, but the exact percentage is not publicly published — it is provided at merchant signup, so the merchant fee is shown as “Contact sales”. A launch promotion waived the one-time setup fee and the first-year annual maintenance fee (worth RM1,000), and IOUpay pays merchants in full upfront on a weekly settlement cycle.
Integration is no-code via partner plugins and platforms (a dedicated Shopify app, EasyStore, GoBiz and others), with merchant onboarding handled through IOUpay’s merchant portal. Note: IOUpay’s parent has faced financial difficulties — verify current operating status before listing.