The Egyptian consumer finance sector is accelerating its shift toward fully digital transactions as mylo, the fintech venture born out of retail giant B.TECH, rolls out a direct integration with the InstaPay financial services app.
Quick Facts
- Users can now pay installments directly via InstaPay.
- Payments utilize mobile numbers or national IDs.
- Platform supports 48-month plans across 5,000 brands.
Upgrading Digital Payments in Egyptian Consumer Finance
The new feature allows mylo users to settle their due installments instantly through the InstaPay network. By using a registered mobile number, a national ID, or a specific company code, customers can bypass traditional, manual payment methods in favor of a smooth digital transaction.
This integration aligns with a broader strategy to accelerate instant digital payments across Egypt’s non-banking financial sector. By connecting consumer credit to national digital payment infrastructure, the company aims to embed its financing solutions into the daily routines of a fast-paced consumer base.
Mohamed Khattab, CEO of mylo, framed the InstaPay integration as a critical move in delivering a flexible payment experience through widely adopted digital platforms.
“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,” Khattab stated.
Accelerating Non-Banking Financial Adoption
The rollout fundamentally reduces friction for users managing multiple retail installment plans. Transitioning users away from cash collections or traditional bank transfers brings non-banking financial services closer to utility-like convenience.
This level of accessibility targets a wider demographic of Egyptian consumers who are actively seeking digital-first financing solutions that require minimal effort to maintain.
About mylo
Developed as a fintech venture from B.TECH, mylo operates as one of the first consumer finance companies in Egypt to secure approval from the Financial Regulatory Authority (FRA) for a full fintech license and digital registration. The platform provides alternative financing and flexible installment plans of up to 48 months. With a merchant network exceeding 5,000 brands across 15 different retail categories, mylo promotes structured, responsible spending habits for Egyptian consumers.
Source: My Startup World
