Mifinity claims to be a payment method with infinite possibilities, but truth be told, it will take more convincing than that to explain what this payment is all about. As the popularity of Mifinity spreads like wildfire, we reached out to online specialist Gilfred Helmonsen (read his bio here) to help us understand what this coveted payment method is all about, and most important, how to use it!
“Mifinitiy is an e-wallet, meaning you can pay online, receive funds and send money worldwide. Like most other similar payment methods, it is web-based, so there is no physical shop you have to visit to get your hands on it”, he explains.
However, that doesn’t answer how Mifinity works, so we decided to take a deeper look into it. And Gilfred is coming with us!
Why Use Mifinitiy?
“Let’s say you want to play at a casino, or Mifinity casino, to be more precise. You will have to use this particular payment method to top up your account. Of course, you can use this method at online stores, to purchase event tickets, and handle any kind of payment online”, explains Gilfred.
The main reason why one should use Mifinity is privacy. Namely, this payment method allows you to keep your credit card and banking information for yourself, as you never have to share it with the end-company providing you with goods and services. Gilfred describes it as a bridge: you give personal information to Mifinity, but they don’t share it with anyone, just handle the transaction. Your casino operator or online store will only see Mifinity payment details, which guarantees a much higher level of safety. “Safety sure does come in handy”, laughs the expert.
How to Use Mifinity?
Like most e-wallets out there, Mifinity is very convenient and easy to use. Helmonsen promises everything can be over and done in a few minutes, without leaving your couch.
“You don’t even have to put your pants on! There is no driving on the bus to get to the bank, or waiting in line just to see the teller leave for a break. All it takes is some goodwill and internet connection”, reveals the specialist.
To set up your Miginity account, do as follows:
- Download the app and sign up. Alternatively, sign up on the desktop website.
- Follow the steps as instructed to create an account.
- Connect Mifinity with a deposit method of your choice to fund the Mifinity account.
- Go on a shopping spree or play games online by paying with Mifinity.
There is no wisdom to it, as Mifinity is simpler and straightforward.
Is Mifinity Free?
One of the major concerns when it comes to online payments is cost-efficiency. Naturally, we asked Gilfred, how Mifinity ranks compared to others.
“All e-wallets tend to have fees that come pretty close to each other. There is no way to avoid fees, as e-wallets are legit companies and have to run their business in one way or another. Fees are one of the sources of their income, and Mifinity is no different.”
Mifinity will charge you both deposit and withdrawal fees. There are some exceptions to this rule, but pretty much any method you can think of comes with a fee. Deposit charges can end up being up to 7%, but typically hit the 4% mark. Withdrawal fees tend to lad around 2%, or slighty less. Plus, there are also conversion fees, if you use the foreign exchange.
“There is no free lunch in this world, but it is better to pay a fee than do transactions with an unsecured e-wallet”, warns Gilfred, as he pays for our coffee with Mifinity.