MiFinity partners with major UK Retail Bank to deliver virtual debit card solution
MiFinity, a global payments provider, today announced the successful roll out of its virtual prepaid debit card solution for a major UK retail bank.
This virtual card product is currently being rolled out by the major UK retail bank across its global card network. This to include travel management companies and automative dealership networks in the UK. MiFinity’ssolution provides the virtual card generation engine and card network connection.
The virtual MasterCard prepaid cards are simple to use, secure, fast, convenient and cost effective. Each virtual card is unique and is created for a single transaction. Virtual cards facilitate improved cost control which can be configured to a specific merchant category, date period, exact amount, spend range or budget. The MiFinity payment platform was enhanced by the virtual card product solution. Our client was looking for something extraordinary to bring to the market and enrich the overall payment and customer experience. MiFinity facilitated this requirement allowing the retail bank to offer an evolutionary payment solution in the marketplace.
“We were delighted to be selected by this major UK retail bank to deliver this solution. This is a new product vertical for MiFinity and we look forward to expanding this relationship and growing this new revenue stream. This entailed the integration of MiFinity’s prepaid debit card payment solution into the retail banking network. This is a further endorsement of MiFinity’s payment expertise and technology in the online paymentsspace” said Michael McDevitt, Chief Product Officer, MiFinity.
MiFinity, a global payments provider, offers a range of cost-effective and efficient end-to-end payment solutions. It has more than 18 of experience in the online payments space with a growing network of global partner relationships and a best-in-class, highly secure and regulated technology platform. MiFinity has evolved into a true ‘omni-channel’ payment provider to the global online payment market. The roll out of this virtual Card technology has expanded the MiFinity product offering
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