MiFinity CEO Paul Kavanagh: “Transaction fees should not be a barrier to paying online or transferring funds”

MiFinity CEO Paul Kavanagh recently spoke with SBC about the global payments provider’s growth after a tricky couple of years for all companies in the aftermath of the COVID-19 pandemic. 

Amassing 18 years in global payments, Kavanagh goes into detail about his firm’s evolution , attributing the MiFinity eWallet as a cause of helping its iGaming affiliates grow and process transactions more efficiently. 

He said: “MiFinity is a global payments provider with more than 18 years of experience in the online payments space. We first launched our MiFinity eWallet back in 2017, which has been designed to meet the evolving needs of our iGaming partners. I’m incredibly proud to say that this has had the greatest geographic reach of any iGaming wallet.

“We have seen accelerated growth over the last 18 months in terms of customers, transactions, operators, services, and market penetration. So, as you can imagine, we were extremely excited to launch our affiliate programme alongside this offering.

“We’ve got a fantastic team to help us do this, with a dedicated affiliate team supported by our marketing and customer service teams. I think we’re in excellent shape to take this next step and really add value for our merchants and iGaming affiliates.”

The MiFinity eWallet allows for online payments to be transacted all across the world, as merchants can pay online, receive funds and send money. 

When it comes to its usage within the iGaming space, Kavanagh noted that its partners can use the eWallet at any of MiFinity’s merchant websites, which currently includes over 300 brands.

He continued: “First and foremost, our users are global iGaming customers who can use their eWallet at any of our merchants’ online sites, currently over 300 live brands. However, they can also use it to send money to almost anywhere globally with instant eWallet to eWallet transfers and via money transfer.

“What’s more, they can purchase MiFinity eVouchers from Dundle, OffGamers and ReloadHero.com to deposit funds or send as a gift, or get a free virtual IBAN to top up their eWallet with no fees to pay (currently, EEA and UK users only).

“This then brings me on to another hot topic – fees. One of the reasons the MiFinity Wallet user community has grown significantly is our highly competitive fees.

“Transaction fees should not be a barrier to paying online or transferring funds, so we’ve done all we can to keep our fees super low, so our customers have more to spend and complete control over how they spend it.”

Looking toward the future, Kavanagh is confident that its newly-launched affiliate programme will play an increasingly important role in MiFinity’s growth.

He said: “Companies join affiliate programmes for two reasons. To improve conversions and to create additional revenue streams. We can help our merchants and affiliates do both. We pay the highest commissions in the industry, so you’ll earn more with us than elsewhere.

“And we have a highly experienced affiliate marketing team who provide bespoke campaigns for all our merchants and affiliates to boost conversion rates and generate more revenue.

“For MiFinity to grow and be successful, we need to support the growth of our merchants and work with them to increase conversions.

“We already do this by making transactions easy and secure and building great relationships with our user community. But, by working closely with merchants and iGaming affiliates, via our affiliate programme, we can do even more.”

Rounding off discussions, the CEO outlined some of the company’s plans for the remainder of this year. “The MiFinity team is constantly innovating, from product developments to new initiatives and incentives, so many are coming up in 2022.”