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Frequent Ask Question
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Credit Limit
Late Payments
Card Lost

Frequent Answer and Question


What are the requirements for using myIOU BNPL service?

  • At least 18 years old and above

  • A Malaysian NRIC (MyKad)

  • Credit/debit card issued by Malaysian financial institutions

  • Malaysian mobile number & email address

Why does myIOU require information on my national identification card (MyKad)?

To validate users’ identity, we require a front and back photo of your MyKad at sign up to prevent any misuse of identity or funds.

How does IOUpay protect my personal information?

Sensitive information such as phone number and email will be encrypted and shown with masking both when displayed and stored, protected with PDPA.

At IOUpay, we take your privacy and data security very seriously. Our privacy policy explains how we collect, use, disclose and safeguard any personal data you provide to us.

What type of cards can I use?

myIOU accepts both debit and credit cards (Visa or MasterCard) issued by Malaysian financial institutions.

At the moment, we don’t accept the following type of cards:

  • American Express (AMEX)

  • Japan Credit Bureau (JCB)

  • UnionPay

  • Discover

  • Diners Club

Will the use of myIOU impact my credit score?


How long does it take to get my myIOU account approved?

For new applications, your account will be approved upon completion of the application process subject to terms and conditions.

What happens if my registration gets rejected?

Please try to resubmit the application with the correct verified documents and valid credit card or debit card.

What is my credit limit upon application approval?

An instant approval of MYR1,000 credit limit.


Instant approval of MYR1,000 credit limit will be granted between 9am – 10pm (including Sat, Sun & public holidays). Credit limit will be MYR0 between 10pm-9am and will be approved within 48 hours.

What if I don’t receive One Time Pin (OTP)?

You may need to refresh the connection between your phone and your mobile carrier. Please try:

  • Turning your phone off and on (or restarting if possible)

  • Turning airplane mode on and off

  • Removing and re-inserting your SIM card

I'm unable to register on myIOU app with my Huawei/Honor phone.

Currently, myIOU app is not available on Huawei and Honor devices without Google Play Services. 

Credit Limit

How do I increase my credit limit?

You can increase your credit limit up to MYR10,000 by signing up for myIOU Credit+ through myIOU app subject to terms and conditions.

Complete application with:

  • Latest one (1) month credit card statement

  • Latest one (1) month income crediting bank statement

  • Any one (1) proof of residential address (Example: Utility bill or proof of delivery with valid shipping address from any E-commerce platform)

How long does it take for my myIOU Credit+ application to be processed?

Requests made before 12:00pm together with complete required documentations will be processed on the same day and requests made after 12.00pm will be processed on the next business day.

What is the maximum credit limit I can apply?

The maximum credit limit per account is MYR10,000 subject to terms and conditions.

How many BNPL transactions am I allowed to perform at one time?

You can perform as many transactions as you like provided you do not exceed the available credit limit in your myIOU app.

How much can I purchase with myIOU BNPL?

You can purchase as much as you like provided you do not exceed the available credit limit in your myIOU app.

Initial, Subsequent and Late Payments

When do I complete the initial payment?

You will need to complete the initial payment upon check out after confirming the transaction details.

How does subsequent payment work?

Remaining balance of total purchase will be split into monthly instalments and will be charged monthly depending on the tenure agreed by the merchant. Your card binded to myIOU will be charged automatically every month for the remaining instalments.

What are the repayment tenure options available in myIOU?

2, 3 or 6 monthly payments. Tenure adopted by merchants varies.

What happens if I miss a payment?

myIOU will send a notification via myIOU app, SMS and email. Your account will be suspended from performing transactions until outstanding payments are resolved.

A late payment fee will be imposed for overdue payments.

What is the rate for late payment fee?

For overdue payments, you will be charged a late payment fee of MYR5 or 1% on outstanding amount (whichever is higher).

Can I change my subsequent payment due date?


How will I know when my next subsequent payment is due?

You will receive a reminder via myIOU app, SMS and/or email within 3 business days before your next subsequent payment is due.

Can I use different cards for each subsequent payment?

The card for subsequent payment cannot be changed. However you can use a different card for new transaction.

What will happen if I enter the wrong payment pin?

You can reset your payment pin through myIOU. For assistance, please drop an email to or call us at +603-7733 5500 during hours below:


Mon – Fri : 8am – 11pm

Sat/Sun/Public Holiday : 10am – 11pm

Cancellation, Refund & Dispute

Can I request for a refund for item(s) bought?

The delivery and quality of the products and services purchased is always the responsibility of the merchants. Please reach out directly to the merchant where you purchased your product or service for any cancellation and refund.

How do I request a full refund?

Please contact the merchant to request for a full refund, and it is subject to the merchant's cancellation and refund policy.

Merchant has approved my refund; how long will it take for the amount to be refunded back into my account?

Once your refund has been processed, you will receive a notification via email and the refunded amount will be released to your original payment method within 14 business days.

Why am I still being charged after I returned the product(s)?

Once you have returned the product(s) to the merchant(s), it may take a few days for them to inspect, process and ensure that the returned goods meet their cancellation and refund policy requirements.

Card Lost / Fraud

What if my card is lost/cancelled by the issuer or expired?

If you have a payment due to us, do contact us immediately at or call us 03-7733 5500 for further assistance during hours below:


Mon – Fri : 8am – 11pm

Sat/Sun/Public Holiday : 10am – 11pm


Please take note that you will not be able to make a new transaction until the new card is registered.

For further assistance, please contact Wah Lee Group Careline at;

  1. Facebook @wahleegroup

  2. Email to

  3. Telephone 1300-22-3118  (9.00am to 6.00pm, Monday to Friday)

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