MiFinity, the global payment provider, today has announced the roll out of Bitcoin, BitCoin Cash, Ethereum, Ripple and Litecoin as additional funding and withdrawal options within the MiFinity platform. The solution is powered by Cryptopay, a 3rd party cryptocurrency payment service provider that enables Bitcoin, BitCoin Cash, Ethereum, Ripple and Litecoin holders to convert cryptocurrencies real time into Fiat currency. The equivalent Fiat or cash amount is then credited to the users eWallet. This balance can then be used to fund transfers to Merchants or consumers real time. Furthermore, consumers can now also withdraw funds in fiat converted to equivalent value in cryptocurrency from their MiFinity eWallet to their crypto wallet.
This two-way solution will allow all global Crypto users to maintain their ‘wallet’ of choice. This meets the demands of the crypto community and provides additional funding and cashout options to these users. It also enhances the overall MiFinity offering and recognises that crypto is becoming one of the most popular “alternative payment methods” on cashiers across the world. This new payment solution will provide a higher acceptance rate for consumers.
Some key benefits of integrating Cryptopay include:
- Ability to convert Bitcoin, BitCoin Cash, Ethereum, Ripple and Litecoin into Fiat real time
- Ability to convert Fiat into Bitcoin, BitCoin Cash, Ethereum, Ripple and Litecoin real time
- Extensive global coverage
- Low fees – no expensive FX conversion fees and charges when settling like for like
- Provides MiFinity consumers with additional loading and withdrawal options
- Convenient, fast, secure and seamless across borders
- Simple to use with customer friendly interface
The MiFinity eWallet is a fast, simple and secure way for customers to perform payment transactions. Enhanced additional local payment options will support deposit, withdrawal and transfer functionality in different currencies across the platform.
“We are super excited about this latest payment partnership. This additional payment option, which supports both payin and payouts, will complement the MiFinity payment platform and allow our Merchants to better target their client base with this global solution. 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 and payment partners in our product and look forward to the continued roll out and evolution of the platform “, said Kieron Nolan, Chief Financial Officer, MiFinity.