, the leading secure eWallet provider, is proud to announce its exceptional performance in the Plimsoll Analysis, a comprehensive study of the Secure Payment Solutions industry. The analysis, which assesses the health, value, and prospects of companies in this sector, consolidates MiFinity’s position as an industry leader, highlighting the company’s strength, innovation and resilience in the face of challenging economic conditions.
MiFinity has been recognised in two exceptional performance categories, underscoring its commitment to excellence in the industry. These categories include the provision of an eWallet payment method and global reach, solidifying the company’s position as a leader in secure payment solutions.
Retaining its place in the Plimsoll Analysis, demonstrates MiFinity’s outstanding performance and stability, even during challenging economic times. In contrast, 86 of the company’s competitors are currently facing financial danger, and a record number are experiencing losses.
Paul Kavanagh, CEO at MiFinity, commented on these achievements, saying, “In a challenging marketplace, where economic headwinds have impacted many, we are delighted to have it confirmed by independent analysis that MiFinity is in good health and performing exceptionally. Our position among the top Secure Payment Solutions companies is a testament to our customer-centric approach and our best-in-class products.”
Industry Profit Margin:
The average profit margin in the industry is now 3.5%
Companies with Significant Growth:
A total of 66 companies have achieved growth rates exceeding 10%
: 87 companies continue to be beacons of success
Improved Profit Margins:
103 companies have improved their profit margins
140 companies have reported higher sales than the previous year, reflecting the overall growth in the industry
Enhanced Overall Performance:
115 companies have witnessed an improvement in their overall performance
86 companies are currently facing financial danger
Out of the surveyed companies, 86 are burdened with growing debt
This year MiFinity launched its new best-in-class app and desktop experience, using the most innovative technology to create an outstanding user experience. This innovation sets new industry standards for eWallet design.
MiFinity has also grown significantly across key areas of its operations. Growth includes record new customer sign-ups, the successful integration of new brand partners, increased transaction volume and the strategic expansion of the company’s team. These achievements underscore MiFinity’s commitment to meeting the evolving needs of its customers and partners while continually improving its services to better serve a global user base.
Furthermore, MiFinity has solidified its market share with its payment solutions available in over 225 countries and territories, its eWallet integrated into over 500 merchant websites and more than 650,000 active users worldwide.
Reflecting on the report, Kavanagh said, “Reports like the Plimsoll Analysis are a useful way of benchmarking our performance in the industry. It’s reassuring to know that our gut instinct that we’re doing well in a difficult market is borne out with concrete data. However, our commitment to excellence doesn’t stop here. We remain dedicated to continuous improvement and innovation, striving to exceed the expectations of our customers, partners, and stakeholders. As we move forward, our focus remains firmly on delivering cutting-edge solutions and unparalleled service, solidifying our position as a trusted leader in secure payment solutions.”
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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 is evolving into a true ‘omnichannel’ payment provider to the global online payment market. MiFinity UK Limited and Mifinity Malta Limited, trading as MiFinity for the issuing of electronic money, are duly authorised and regulated by the UK Financial Conduct Authority (FCA) and Malta Financial Services Authority respectively (MFSA).