MiFinity
Key Data
- Trading Name: MiFinity
- Legal Entity: MiFinity UK Limited, Mifinity Malta Limited
- Activities: E-Money Institution
- Location: UK, Malta
- Regulations: FCA in UK, MFSA in Malta
- Key People: Paul Kavanagh, John Nolan
MiFinity is an e-money institution (EMI) regulated by the FCA in the UK and the MFSA in Malta that operates as a payment processor. MiFinity is primarily focused on the gambling industry and other high-risk sectors.
MyFinity Offering
MiFinity offers a range of end-to-end payment solutions, including the MiFinity eWallet. MiFinity has evolved into a true “omni-channel” payment provider for the global online payments market.
Their service includes:
- Global Money Transfers
- Cryptocurrency Storage
- Multi-Currency Support
- Virtual IBAN
Involved Industries
- Low to High Risk: Online Gaming, Travel, Forex and eCommerce, Crypto
- The payment processor primarily targets high-tisk industries like online casinos and gambling.
Regulation
- MiFinity is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 [Register Ref. 900090] for the issuing of electronic money.
- MiFinity Malta Limited, trading as MiFinity, is authorized by the Malta Financial Services Authority (“MFSA”) as a Financial Institution under the Financial Institutions Act 1994
Involved Individuals
MiFinity is managed and controlled by the two Irishmen Paul Kavanagh and Kieren Nolan as CEO and CFO respectively.
Customer review
Trustpilot: 1.8 Stars with 750+ Reviews
Customer complaints indicate issues with payouts and other potential scam activities, while some positive reviews seem questionable, often from first-time reviewers.
Conclusion
MiFinitey is a regulated financial services provider. However, the financial intelligence platform FinTelegram exposed that MiFinity is involved as a payment processor in illegal gambling activities. Additionally, there is a lot of negative customer feedback. Thus, we included them in our Orange Compliance list.
