FinTelegram is seeking information on MiFinity, a financial services provider involved in the online casino, gambling, and sports betting sectors. MiFinity UK Limited and MiFinity Malta Limited are authorized by the UK Financial Conduct Authority (FCA) and the Malta Financial Services Authority (MFSA) respectively as E-Money Institutions (EMI). We have found the EMI as a payment facilitator at online casinos and sports betting platforms and would like to know more.
MiFinity Key Data
| Trading name | MiFinity |
| Business activity | E-Money Institution |
| Domains | www.mifinity.com |
| Legal entity | Mifinity UK Limited Mifinity Malta Limited |
| Jurisdictions | United Kingdom, Malta |
| Authorization | FCA with Ref No: 900090 MFSA with Ref No: C64824 |
| Related individuals | Paul Kavanagh (LinkedIn) Kieron John Nolan (LinkedIn) |
| Payment services | Credit/debit card, IBAN, e-wallets, pre-paid cards, crypto |
| PayRate42 rating | Orange Compliance (PR42 profile) |
| Known clients | Dama Group |
Short MiFinity Narrative
MiFinity is managed and controlled by the two Irishmen Paul Kavanagh and Kieren Nolan as CEO and CFO respectively. The payment processor primarily targets high-tisk industries like online casinos and gambling.
In our reviews, we found MiFinity as a facilitating payment processor for numerous online casinos, gambling, and sports betting platforms. Notably, the Dama Group, registered and licensed in Curacao, utilizes MiFinity alongside MoonPay and eZeeWallet for its payment processing needs.
Many of Dama‘s platforms, despite being licensed in Curacao, target customers from jurisdictions where this license is not recognized, thereby operating illegally. Payment processors like MiFinity play a role in facilitating these operations. Dama, among other online casino operators, employs payment agents in Cyprus specifically set up for these transactions, such as Friolion Limited and Strukin Limited.
MiFinity‘s services allow customers to process deposits via various methods, including credit/debit cards, e-wallets, bank wires, and cryptocurrencies.
Damaged Reputation
However, on platforms like Trustpilot, MiFinity‘s reputation is concerning, with a rating of 1.8 stars and a Poor Trust Level as of January 29, 2024. This rating suggests potential scam activities, as evidenced by customer complaints about payout issues and other problems. Additionally, some positive reviews appear questionable, often posted by first-time reviewers.
The CyberRating agency PayRate42 has also placed MiFinity on its Orange Compliance List, citing these extremely poor customer reviews.
Share Information
FinTelegram invites anyone with information about MiFinity, its customers, or its activities to share this information through our whistleblower system, Whistle42.
