21 June, 2022

Low Fees, High Traction

MiFinity Co-founder and CEO Paul Kavanagh speaks to Trafficology about the growing influence of eWallets within the iGaming market

Tell us about MiFinity; who you are and what do you do?

We’re a global payments provider with over 18 years of experience in the online payments space. We launched the MiFinity eWallet in 2019, an eWallet designed for the iGaming industry; which I’m proud to say has the biggest geographic reach of any iGaming wallet. We have seen record growth in the last 18 months in terms of users, transactions, operators, services and geographic reach, which is why we’re excited to launch our affiliate programme this year.

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.

Can you explain, in simple terms, what MiFinity offers?

The MiFinity eWallet is effectively a digital bank account. We are a regulated and licensed online payments company and our eWallet can be used to pay online, receive funds and send money around the world.

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 in the world with instant eWallet to eWallet transfers, and via money transfer. What’s more, they can purchase 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).

Which brings me to fees. One of the reasons why the MiFinity eWallet user community has grown significantly is because of 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 that our users have more to spend and complete control over how they spend it.

ICE is fast approaching. Why did you decide to launch a new affiliate programme?

I’ve really missed events like ICE and iGB Affiliate, following last year’s Covid-enforced cancellations and postponements. However, ICE is back this spring and the team can’t wait to meet old and new connections at our stand (N5-402, please come and say hello!)

As this is the first time back in London since February 2020, it seems like the perfect opportunity to launch the affiliate programme, and have new conversations about how we can support our merchants and iGaming affiliates. It’s great to have some good news to share.

How will this affiliate programme play into your existing business?

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 by building great relationships with our user community. By working closely with merchants and iGaming affiliates, via our affiliate programme, we can do even more.

What makes your affiliate programme distinctly unique from the competition? Is it to do with your roots as a payment solutions provider? 

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 be earning 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.

Looking ahead, what’s in store for MiFinity in 2022?

The MiFinity team is constantly innovating, from product developments to new initiatives and incentives, so there’s lots coming up in 2022.

We’re all very excited about attending ICE as it will be great to see people face-to-face, while we’re also revealing our rebrand and the affiliate programme. It’s been a tough couple of years for everyone, personally and professionally. So we are very proud that against this backdrop we’ve seen significant growth and have so much to celebrate.

Bio: Paul Kavanagh is CEO and co-owner of MiFinity. Prior to his appointment in July 2016, Paul held many senior management positions spanning a 30-year career, including CEO of MLB Ltd (trading as Sportingbet) and Hertz, among other high-profile companies. Paul is a strong proponent of initiatives that drive diversity and building balanced teams in the workplace. He is a champion for staff engaging at all levels within the organisation, not as an end in itself, but because of clear evidence of the positive impact of diversity on an company's performance.

 

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