Ireland-based eWallet provider MiFinity has announced the launch of MiFinity Instant Bank Transfer product, an Open Banking service powered by Volt . Following this launch, MiFinity clients can load funds into their personal eWallet directly from their bank account through an account-to-account service, in real-time.

The new product is an e-money service that provides users with the possibility to transfer funds from their multi-currency eWallets. This is allowed on transactions with any accepting merchants around the industry. The MiFinity Instant Bank Transfer tool is available in numerous European countries, offering clients the possibility to make secure, efficient, and fast transactions and payments.

Customers have the capability to make payments across multiple regions around the continent while using multiple currencies in one account. MiFinity Instant Bank Transfer is powered by the banking payments platform Volt. The integration of its real-time account-to-account (A2A) payment solutions enables transfers of funds from a bank to the eWallet faster and more securely.

The Open Banking payments processes by Volt will be tracked from initiation to receipt if the customer wants the process the be analysed and monitored. The security features provided by Volt focus on keeping the client’s data and information safe and protected from multiple online threads, such as fraud. Volt’s strategy Open Banking company Volt gives its client base multiple solutions and services.

The fintech had multiple partnerships and collaborations across the world in the last couple of months, focusing on the development of Open Banking and the integration of its products in numerous startups. Vold appeared in one of Voice of the industry articles published by The Paypers in February of 2023. The publication researched and analysed the most important partnerships and collaborations that defined resilience in the fintech space in Q4 2022.

It covered multiple areas, focusing on Open Banking, A2A, embedded finance, and all the strategic decisions in between. Vold was mentioned because of its partnership with the crypto exchange platform Kriptomat. It was announced in November of 2022, and it aimed to launch real-time account-to-account (A2A) payments for cryptocurrencies.

Following this deal, Kriptomat was allowed to enable near-instant speed and friction fee transactions, giving customers the possibility to buy, sell, and exchange cryptocurrencies in real-time, thus prioritising the removal of barriers for more than 500,000 users and clients in trading over 340 cryptocurrencies. By integrating a real-time A2A payments option with the use of Volt’s services, Kriptomat focused on ensuring an increasingly fast, streamlined, and less costly way for its client base to fund cryptocurrency purchases. As real-time payments help ensure that transactions are carried out instantly and safely, the deal offered improved control and an overall payment experience for users.

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