How we fund our accounts is a massive concern for online gamers. With the ever-present spectre of cyber fraud lurking around every corner, gamers need a method they can trust. Mobile gaming has become more popular than ever. With it, the need for convenient payments has also arrived. MiFinity Payments are looking to tackle these concerns with their new MiFinity e-wallet. Developed especially for use in the gaming industry. In this article, we’ll be taking a closer look at this new e-wallet to hit the market. Read our MiFinity e-wallet review, for all the information you need on this payment solution.
What is the MiFinity e-wallet?
The MiFinity e-wallet is a digital wallet developed by MiFinity Payments, formerly known as NYSystems. An e-wallet is a digitally based space, protected by encryption software. Here you can store your payment details and use the wallet to make deposits and collect withdrawals. It saves players from entering their bank details directly into a bingo or casino site. Therefore, it offers an extra layer of protection.
The encryption software means that your banking details are never shared with a site. Instead, the wallet releases funds on your behalf via encrypted code. This particular e-wallet has been created with the online gaming sector in mind. Therefore, it includes many authentications and fraud monitoring controls. It also possesses impressive reporting capabilities.
How does it compare to the competition?
Using e-wallets in the gaming sector is by no means a new innovation. Many other e-wallets are already being utilised by gambling operators.
After enjoying success in the retail sector, PayPal has become a frequent resident at many a casino site. A large number of casino and bingo operators now accept this method, thus making it a good choice for those who wish to use an e-wallet for many different purchases. One of PayPal’s main selling points is that it doesn’t limit player’s choice of sites due to its wide compatibility.
Another popular e-wallet service is Neteller. Owned by the payment service giant Paysafe Group, Neteller offers a service similar to MiFinity. Just like the MiFinity E-Wallet, Neteller allows players to order a prepaid/virtual card. With Neteller, players can request a prepaid Mastercard. Then, with this card, players can withdraw winnings in cash from an ATM. Neteller is also widely accepted by online casinos.
How can it be used in mobile bingo?
When it comes to mobile bingo, MiFinity is ideally suited as a payment method. As we mentioned earlier, it utilises antifraud software to make the payment experience safer. The player can also deposit and withdraw using the brand’s specially developed PayMyCard or PayAnyCard products.
Users of the service can make global payments at a lower local rate as a result of the firm’s large network of banking relationships. The fees for the provider are lower due to a single source of service. Therefore, a quick and efficient service is delivered to the end user at a lower cost to operators. It aims to be win/win.
The MiFinity e-wallet debuted in London in February 2016. Therefore, it is available to begin using now.