MiFinity leverages open banking with the launch of MiFinity Instant Bank Transfer

MiFinity, the market leading eWallet provider, today announced the launch of its new instant bank transfer service – MiFinity Instant Bank Transfer. The service allows MiFinity customers to load funds into their eWallet from their bank account (account-to-account) in real time. The launch of MiFinity Instant Bank Transfer builds on the company’s commitment to delivering its users a best-in-class customer experience.

From today, MiFinity Instant Bank Transfer is available across multiple European countries, providing customers with convenient, secure and fast transactions. Making it even easier to use their MiFinity eWallet when purchasing products and services or transferring funds. This news will be welcomed by customers in Europe, especially in regions where traditional bank transfers can take a few business days to be completed.

MiFinity Instant Bank Transfer is a secure e-money service that enables customers to transfer funds from their multi-currency MiFinity eWallets to transact with any accepting merchant. MiFinity offers its customers the flexibility to create multiple currency eWallets in one account, providing multiple ways to transact with different brands worldwide.

The MiFinity Instant Bank Transfer service is powered by Volt, a leading open banking payments platform. The integration of Volt’s real-time account-to-account payment solution makes transferring funds from a bank account to a MiFinity eWallet faster, more efficient, and cost-effective. Real-time payments guarantee instantaneous transactions, providing a smooth and secure payment experience. Open banking payments processed by Volt can be tracked from initiation to receipt and, with bank-grade security, provide customers with better protection against fraud.

MiFinity CEO Paul Kavanagh said, “We’re excited to offer our customers the benefits of open banking with MiFinity Instant Bank Transfer. It allows us to deliver an even better user experience, making it easier for our global customers to transfer funds quickly and securely wherever they are located. The enhanced security and other opportunities that open banking presents will help us continue to deliver our best-in-class customer experience and provide MiFinity users with even more innovative services.”

Thomas Pinter, SVP Volt said “By plugging into Volt’s world-beating open banking network, MiFinity can offer its customers worldwide the same lightning-fast open banking payments experience. We’re delighted to partner with MiFinity and support their vision to make payments simple, smart and secure – and now even faster.”