MiFinity, a trusted eWallet provider, has been recognized for its impressive performance in a study of the top Secure Payment Solutions companies. The Plimsoll Analysis analyzed the health, value, and prospects of 220 companies in the sector to assess their position in the overall market. MiFinity has successfully retained its place in the study, confirming that the company is in good health and performing strongly.
Despite challenging market conditions and decreasing FinTech valuations, MiFinity has doubled its merchant base and recorded an unprecedented number of new account signups in the last two years. The company’s CEO, Paul Kavanagh, attributes its success to its innovative, customer-centric approach and agility.
The Plimsoll study found that 82 of the audited companies are in financial danger, and many are operating at a loss. FinTech valuations have taken a hit due to volatile technology stocks and rising interest rates, impacting investment activity in 2022. Even popular companies like Revolut, Varo Bank, Klarna, and Stripe have had their valuations cut in recent weeks.
Despite the challenging landscape, MiFinity’s impressive performance and market position offer customers, merchants, and investors confidence in the company’s strength and resilience. MiFinity has built the necessary scale to generate sustainable growth since the MBO in 2017, with transaction volumes surging by over 130% since 2021. The company has also integrated over 500 merchant brands in 2022.
MiFinity has ambitious plans for 2023, and beyond, with new products and services in the pipeline. The company recently launched MiFinity Instant Bank Transfer, a real-time account-to-account payment solution, and MiFinity Bonus, a platform that offers exclusive deals and offers from partners across various industries, including travel, Forex, and iGaming. More innovations, such as a new native and desktop experience for the MiFinity eWallet app and new iFrame, are expected in the near future.
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