MiFinity Strengthens Partnership with Praxis Tech

Dublin, 2nd August 2022– MiFinity is pleased to announce the strengthening of its collaboration with cashier software giant Praxis, as the global payments provider embeds itself deeper into the Praxis payment ecosystem.

Since the successful integration of the MiFinity eWallet into the Praxis platform in 2020, MiFinity has continued to innovate its payment solutions. As a result, it’s the fastest growing eWallet on the market, seeing record growth in the last two years regarding customer acquisition, transactions, merchant integrations and market penetration. MiFinity has also proven itself as a global payment provider, handling transactions in 17 native currencies, over 60 local payment methods, and providing a localised user experience in 20 languages.

“Our product has matured significantly since we first partnered with Praxis,” said MiFinity CEO Paul Kavanagh. “We’re doing more than ever for our merchants and customers, with highly competitive pricing for merchants and super-low fees for MiFinity eWallet users. As a result, in 2021, we recorded 1,300% transactional growth. Our list of currencies, payment methods and services are growing continually, and we’re adding new features and benefits at every opportunity.”

Amit Klatchko, Co-Founder and Director of Praxis commented: “When we onboard a new PSP, we look for providers that add value for merchants. MiFinity has demonstrated this by continually innovating and expanding its payment services to help our merchants streamline payments and convert customers. In recognition of this, MiFinity is our PSP of the Month.”

The MiFinity eWallet allows customers to deposit, withdraw and transfer funds securely using their preferred payment method, increasing conversion rates for merchants in sectors like iGaming and Forex. Merchants can also benefit from the MiFinity iFrame, which delivers a frictionless, high-converting payment journey for their players and traders. In addition, Praxis merchants can take advantage of fast-track onboarding to integrate MiFinity solutions in their Praxis cashier.

“At MiFinity, we never stand still,” added Paul Kavanagh. “We are always looking for ways to make payments fast, simple and secure for merchants and customers and to make it a great experience. For example, EEA and UK MiFinity eWallet users can apply for a free virtual IBAN, benefiting from zero fees when funding their eWallet. Reducing friction in the payment cycle is advantageous for merchants who benefit from customers with more money and fewer barriers to spending.”

Together with Praxis, MiFinity plans to continue its record growth in 2022 and beyond, integrate many more merchants and exceed its 2021 successes.

About MiFinity

MiFinity, a global payments provider, offers a range of cost-effective and efficient end-to-end payment solutions. It has a growing network of international partner relationships and a best-in-class, highly secure and regulated technology platform.

MiFinity’s online eWallet targets the travel, forex, and eCommerce sectors. It is a fast, simple, and secure way for customers to perform transactions with multiple local payment options in different currencies. As a result, MiFinity is evolving into a genuine ‘omnichannel’ payment provider to the global online payment market. For more information, please see www.mifinity.com

About Praxis Tech

Praxis Tech is a technology provider that has developed the ultimate smart cashier software designed with Fintech, Travel and E-commerce businesses in mind. Praxis Tech’s software was designed to overcome high-risk processing difficulties, increase business transaction approval rates by more than 15% and bring peace-of-mind to user-company management. With staff spanning the globe, Praxis provides non-stop technological and support coverage.

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®MiFinity UK Limited, trading as MiFinity, is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 [Register Ref. 900090] for the issuing of electronic money. Registered in Northern Ireland. Registered address: 28 School Road, Newtownbreda, Belfast, BT8 6BT, Northern Ireland. Registration No. NI611169.

®Mifinity Malta Limited, trading as MiFinity, is authorised by the Malta Financial Services Authority (“MFSA”) as a Financial Institution under the Financial Institutions Act 1994 (Chapter 376 of the Laws of Malta). Registered address: Level 3 (SUITE 2507), Tower Business Center, Tower Street, Swatar, Birkirkara, Malta. Registration Number C64824.