In focus: MiFinity

2022 saw a surge in the adoption of eWallets, not only for in-store purchases but also for online transactions. eWallets have become mainstream, with industries like iGaming driving the widespread acceptance of eWallets as a preferred payment method. Spearheading this trend is MiFinity, the iGaming eWallet provider. In the last 12 months, the MiFinity eWallet has experienced record new sign-ups, with 1,000s of new accounts created daily. In addition, MiFinity recently exceeded 500,000+ new customer accounts since its launch in 2017.

What’s driving eWallet adoption?

According to MiFinity CEO Paul Kavanagh, this is summarised in one word: ‘Convenience.’ “eWallets offer players a convenient and secure way to fund their accounts, make withdrawals and manage their funds seamlessly.” Kavanagh continued, “We’ve invested significantly in creating frictionless and user-friendly experiences for players, which are infinitely more convenient than other payment methods as well as having much higher acceptance rates too.”

Traditional payment methods often entail lengthy verification processes and delays in transaction approvals, and can also result in bank refusals. In contrast, eWallets like MiFinity offer instant deposits and withdrawals, eliminating unnecessary delays and providing players immediate access to their funds. The speed and efficiency of eWallet transactions have resonated with players, resulting in a significant shift towards their adoption.

The versatility of eWallets has also contributed to their adoption on a global scale. For example, the MiFinity eWallet supports multiple currencies, languages and local payment methods, enabling players to engage in online gambling without the hassle of currency conversions. This global accessibility has opened new opportunities for international players, fostering a more inclusive and diverse gaming community.

User experience is vital to sucessful iGaming eWallets.

Besides convenience, the other key factor differentiating the MiFinity eWallet is its outstanding user experience. This, in turn, equates to high conversion rates. MiFinity has announced several new developments over the last 12 months to ensure its customers receive a best-in-class user experience every time they use their MiFinity eWallet. These include:

New mobile app and desktop UI

Using the latest app architecture, the MiFinity app provides customers with an enhanced and secure experience that makes managing online payments simple. Its intuitive layout and design allow customers to deposit funds, make payments, and send money quickly and securely. When a customer downloads the app, their experience is optimised for a frictionless payment journey. Signing up for a MiFinity eWallet takes seconds, and biometric login is fast, convenient and provides customers with an added layer of security. From the homepage, customers have complete visibility of all their recent transactions and can easily choose the services they require to manage their money.

Advanced iFrame technology

By integrating the MiFinity iFrame into the brand’s cashier, iGaming companies can increase conversions. The MiFinity iFrame allows customers to fund their iGaming account from their MiFinity eWallet without leaving the site. Non-customers can even sign up for a MiFinity eWallet directly at the cashier and transfer funds immediately. As part of MiFinity’s 2023 product roadmap, the company will soon launch a new iFrame with enhanced functionality to improve user experience and conversion rates.

MiFinity Affiliates

MiFinity Affiliates, launched in 2022, is one of the most competitive affiliate programmes in the industry, paying up to 35% and with commission paid on all transfers to and FX fees. It is another excellent example of how MiFinity drives growth across the iGaming industry. The MiFinity Affiliates team works closely with partners providing marketing support and affiliate tools, and offering bespoke campaigns to help increase conversions and generate more revenue. Innovations include MiFinityBonus.com, a dedicated site showcasing exclusive deals and offers from MiFinity’s partners. This website allows iGaming brands to deliver timely, relevant and personalised offers to their most engaged customers. As the demand for secure, convenient and efficient payment solutions in the iGaming industry grows, MiFinity has positioned itself at the forefront of the digital wallet revolution.