MiFinity Expands Local Payments Support in Europe, LATAM

MiFinity, a Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term company, announced on Tuesday the expansion of its local payment options for its customers in Europe and Latin America.

The Belfast-based company has added 42 additional local payment options on the MiFinity eWallet and the payment platform for all its operational regions.

Further, the company has increased the number of eWallet currencies supported within the platform to 11 Settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer's name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2 Read this Term currencies.

“We are very excited about this latest product rollout. These additional payment options will complement the MiFinity payment platform and allow our Merchants to better target their client base with these local solutions,” Kieron Nolan, chief financial officer at MiFinity, said.

The announcement detailed that the customers of the platform can use local currency while making payments using the “local payment technology.”

This, according to the company, will also increase the transaction speed and increase acceptance and authorization rates.

An "omni-channel" payments platform

Launched in 2002, MiFinity offers a range of cost-effective and efficient end-to-end payment solutions, including the MiFinity eWallet.

Last month, a fully owned subsidiary of the MiFinity obtained approval from the Malta Financial Services Authority (MFSA) as a financial institution. The UK-based subsidiary of the company is also authorized by the Financial Conduct Authority as an e-money institution.

“This latest product release coupled with the weekly onboarding and rollout of new Merchants onto the platform have helped move the MiFinity offering onto a new level. We fully appreciate and acknowledge the belief shown by our current and future Merchants in our product and look forward to the continued roll out and evolution of the platform,” Nolan added.