Best MiFinity Casinos on Test 2021
The global payment company NXSystems Ltd. was founded back in 2002 and renamed MiFinity Payments in 2016. With a new concept, they have been covering various industries, including travel and hospitality, through the eponymous payment method since 2017. The company entered the online gaming business a little later, in 2019.
MiFinity is considered a cost-efficient and secure payment solution and is therefore an interesting alternative, especially in online casinos. A deposit to the customer’s account is reliable and can also be carried out easily once a wallet account has been set up.
Basically, MiFinity can be compared to the better-known payment methods Skrill and Neteller, since the customer 🧔 account set up here also has to be filled with funds first. For this purpose, customers can choose from various options – including depositing via bank transfer or credit card.
The main difference is that a casino deposit with MiFinity does not exclude customers from claiming bonuses. Those who make a Skrill deposit, on the other hand, unfortunately have to forgo starting credits as well as participation in further campaigns more often.
As explained at the beginning, other established companies in the gambling industry are gradually turning to MiFinity, as the method is very secure and has significant advantages to offer both providers and customers compared to better-known options. Even Bitstarz, the casino where cryptocurrencies are the main focus, allows players to make a real-money payment with MiFinity as an alternative.
The service provider itself is now active in over 170 countries worldwide. Since Brexit, the legal framework for payment processing in Europe has been the authorization of MiFinity Malta ✅ Ltd. by the Malta Financial Services Authority (MFSA). Previously, the company was active in the EU through MiFinity UK Limited, which continues to exist and is based in Ireland.
In the course of our expert review, we will go into more reasons that make casino operators accept MiFinity – including, for example, the fact that the payment method can even be used to deposit bitcoins, even at companies that do not even offer cryptocurrencies as an option as such.
This is how the MiFinity deposit works at the online casino
The first step to a successful casino deposit is also with MiFinity the opening of a personal customer account. Basically, a registration, following which credit may be deposited, should take no more than five minutes.
If the form was filled out, only an e-mail 📧 must be confirmed. As usual, the login data for subsequent registrations are freely selectable. It is important to choose a password that is as secure as possible in order to protect both access to the personal account and specifically the funds located on MiFinity.
Here are all the steps for MiFinity Casino deposits at a glance:
- Open MiFinity website and register
- Log in, select preferred payment method
- Fill wallet with any amount
- Choose your preferred MiFinity Casino, log in and open cashier
- Enter amount, complete payment via MiFinity
From experience, the entire process does not take long – provided that the decision for a MiFinity Casino has already been made.
Our recommendation: 2-factor authorization should be set at MiFinity in advance. In addition to the personal customer account, this requires the Google Authenticator app, which can be downloaded free of charge and installed on the smartphone. With this app, every booking is additionally secured according to the latest standards.
Loading credit onto the MiFinity Wallet
Since the payment does not work like a credit card statement or bookings via PayPal, it is necessary to deal with the options offered for topping up the MiFinity Wallet. The list of methods 💳 is long. However, we want to focus on payment methods that are relevant for players from Canada:
- Bank transfer
- EPS (direct debit)
- Instant bank transfer (Klarna)
- Bitpay crypto wallet
The fees associated with the transactions can help decide which option to choose. The costs vary from provider to provider, so if you take a closer look and especially in the long run, there is a significant potential for savings here.
Advantages & Disadvantages of MiFinity
What are the advantages of MiFinity payment method?
There are several aspects that speak in favor of dealing with the payment provider. Probably the most important plus point is that customers are free to set up as many MiFinity accounts as they wish. This makes it much easier to manage one’s funds. For example, those who need a separate account for each purpose in order to have a better overview can use this option with MiFinity without restrictions. In contrast, most alternative wallets only allow one account per household, person and IP address.
Another point for the provider is awarded because MiFinity is not exempt from bonus offers like other online wallets. So, if you make the deposit this way, you do not have to miss out on a starting credit or participation in promotions of all kinds 👍. As should be known by now, the situation is usually different with Skrill and Neteller.
MiFinity clients benefit from these advantages:
- Quick and easy registration
- Multiple accounts allowed at the same time
- Casino deposits free of charge and in real time
- Client account can be topped up with various methods
- Send money to friends for free
- Secure management of funds
- Available in over 170 countries
- No exclusion from bonus offers
With the aforementioned 2-factor authorization, MiFinity offers a very high level of protection of funds and thus also of personal data. Only a few pieces of information are necessary to correctly allocate payments to the player account. However, MiFinity Casino does not get access to credit card or bank data.
Are there any disadvantages with MiFinity payments?
Currently, the biggest disadvantage of MiFinity is probably the low penetration. The selection of online casinos in Canada that accept the payment method is still not very large. In our ranking, however, you will find a solid selection of MiFinity casinos.
In contrast to alternative payment methods, especially cryptocurrencies, there are usually significantly lower limits not only for deposits but also for withdrawals. Moreover, the processing time for withdrawal requests takes some time and is not real-time.
The disadvantages at a glance:
- Loading and withdrawing money subject to fees
- Not accepted by all online casinos
- Verification can take several days
- Withdrawals not in real time
- Upper limits for deposits and withdrawals at almost all providers
What other features does MiFinity offer?
Wallets, and thus also MiFinity, can be used in many ways – and not only in selected online casinos. On the one hand, there are numerous features for the simple and secure management of the loaded funds. On the other hand, it offers the possibility to send credit to friends and acquaintances as desired. All that is needed is the individual customer wallet address. This can be entered with little effort, so that the booking is completed within seconds.
Credit card transactions are also possible via the payment service provider. A clear distinction is made here between inexpensive private accounts and more expensive business accounts. The latter cannot be set up for free and are associated with certain fees, but of course offer users all the more functions and flexibility in return.
MiFinity app for mobile devices
The MiFinity financial app is not tied to the desktop. Clients who are often on the go and also want to carry out mobile transactions can download the appropriate MiFinity app for free. This is available for both Android and Apple iOS systems, i.e. iPhone or iPad.
Both mobile apps can be obtained directly from the MiFinity website or alternatively from the respective store. The download is simple and takes hardly more than a few minutes ⏱. Once the installation is complete, all you need to do is log in with the access data you have already created.
If necessary, a separate account can be set up for mobile payments. Mobile casino customers in particular benefit from the highest security standards as well as a high degree of flexibility.
Tips & tricks for payment with MiFinity
The advantage is that customers can easily track each of their transactions with the payment provider in their account – be it topping up credit or payments in stores and casinos. Cost control is therefore relatively simple. If you want to pay with MiFinity in the casino, you should choose a provider that accepts the payment method. On the other hand, a comparison regarding possible transaction fees always makes sense.
Further recommendations for paying with MiFinity:
- Choose a licensed casino that accepts MiFinity.
- Set up an account and fill up your balance
- Ideally, set a monthly limit for MiFinity payments
- Compare fees of different casinos
- Activate 2-factor authorization
- Regularly keep an eye on payment history
Players in particular should be familiar with the way Bitpay works, because those who use this provider always have the option of depositing cryptocurrencies instead of real money in online casinos. In general, however, possible fees should of course be considered and included here as well.
Deposit BTC funds into the casino with MiFinity
In the meantime, more and more casino players prefer to use digital currencies – first and foremost Bitcoin. The good news is that the payment provider MiFinity offers the possibility to deposit into the casino with BTC. Companies in the industry that do not accept crypto wallets themselves and thus no cryptocurrencies in the true sense can thus be used thanks to the payment service provider even if credit is available in the form of BTC.
The crypto service Bitpay is currently supported by MiFinity. Via this service, it is possible to deposit 🪙 Bitcoins or other cryptocurrencies to the e-wallet. In the course of this, a conversion into euros takes place automatically. In addition, MiFinity accepts alternative real money currencies, including.
- British Pounds
- New Zealand dollars
- Norwegian Kroner
- Swiss Francs
- Canadian dollars
MiFinity Casino FAQ
From experience, casino customers like to use wallet providers for payment transactions. Especially in Canada, proven methods such as Skrill or Neteller are increasingly being dropped as an option. With MiFinity, modern online casinos offer a secure and simple alternative.
Before setting up a customer account with the payment service provider, it makes sense to deal with the following questions and answers:
What are the fees with MiFinity?
Actually, deposits and withdrawals via MiFinity are not free of charge. However, the costs can be described as manageable. For example, if a withdrawal to a bank account is requested, the payment provider deducts a flat fee of 1 euro, as well as for the classic Visa Card 💳. The alternative Visa Interregional and MasterCard EEA have a fee of 1.75 euros.
The amount of the deposit fee varies considerably more – depending on which bank or credit card is used for this purpose. Deposits via Giropay cost 1.8% of the deposit amount plus a flat rate of 25 cents at MiFinity. Advantageous: The complete list of fees is provided transparently on the payment provider’s website.
Are there MiFinity bonus offers at the casino?
First of all, it can be stated that no special bonuses are offered in connection with the MiFinity payment provider. Nevertheless, there is usually always the possibility to benefit from starting credits and other casino campaigns. Unlike the better-known e-wallets Skrill and Neteller, MiFinity is not excluded from such campaigns. Consequently, one is entitled to a bonus credit even if the deposit is made with this method.
Our recommendation: Before choosing a payment method, casino customers should always take a detailed look at the bonus conditions. In transparent online casinos, it is explained in detail whether and which methods may lead to no bonus claim.
What does 2FA mean in MiFinity?
MiFinity follows the current European security guidelines for payment transactions – also known as PSD2. Behind this benchmark is the goal of reducing online fraud to a minimum and ensuring the highest level of security. To achieve this, MiFinity has been relying on the particularly reliable 2-factor authorization, or 2FA for short, since 2019, similar to many online casinos.
The type of authorization can be set here in just a few steps. First of all, the download of Google Authenticator is required. This app generates a new, unique security code for the payment 💰 provider every few seconds. Only after entering this code during the MiFinity payment process can the booking be completed successfully. Since no access by third parties is possible, transactions are even more secure thanks to 2FA.
How long does a MiFinity payout take?
Casino customers should expect waiting times of two to three business days, because MiFinity is actually not quite as fast as cryptowallets have become known for. It is also important here that any bonus credited is fully wagered before the withdrawal request is made via MiFinity.
In addition to this challenge, the verification of the wallet is mandatory. The data is comprehensively checked by the payment provider’s employees to ensure even more security here and to ensure that no errors occur during transactions, which would sometimes cost customers a lot of money.
In general, the processing times can be compared with those of other online wallets, including Skrill or Neteller, for example. Thus, MiFinity is still significantly faster than a traditional bank transfer.
Is MiFinity really reputable?
MiFinity is not only officially licensed and supervised by the FCA in the UK, but also by the Malta Financial Services Authority. Thus, the payment system meets the highest European standards ✅ – also and especially with regard to money laundering protection as well as the best possible protection against fraud.
For customers from Canada, the regulation in Malta is particularly decisive. In this country, the company operates as MiFinity Malta Ltd, which is a 100% subsidiary of the original company NXSystems Ltd. NXSystems has been around significantly longer than the payment system. Thus, the operators bring many years of expertise and experience to the table.
How fast do deposits work with MiFinity?
Important to know: MiFinity only allows payments if there are corresponding funds on the wallet. Unlike PayPal, the provider does not accept payments in advance.
Once the personal account has been topped up, transactions can be carried out in real time. The 2-factor authorization only takes a few minutes, because the booking is doubly secured, which ultimately benefits the customers.
If a credit is not visible on the casino account within 10 minutes, contacting the casino via a form will help. The company has also set up hotlines for Ireland, the UK and Malta. In general, however, nothing should stand in the way of a smooth payment process at the reliable provider.
Other possible uses for MiFinity
Interesting fact: MiFinity covers significantly more industries today. The provider came to gambling later, because initially it had focused on completely different areas. Those who have set up a MiFinity account thus benefit from a high degree of flexibility and can use the account in many ways, provided there is credit available. Among others, more and more companies in the following industries accept MiFinity as a reliable payment method:
- Travel agencies
- Insurance companies
- Online stores of all kinds
- Online educational offers
Conclusion about MiFinity Casinos in Canada
Due to the current development on the gambling market, MiFinity has the potential to gradually replace better-known online wallets – first and foremost Skrill and Neteller. The company, which was called NXSystems Ltd. until a few years ago, has a lot of experience in the field of digital payments and focuses on high standards, which are especially important for the security of transactions.
So far, there are a manageable number of MiFinity casinos, but the transfer method is growing steadily, both among providers and users.
A big advantage over Neteller and Skrill: MiFinity 🌟 payments are usually not excluded from bonus promotions.
If you are looking for secure solutions for deposits and withdrawals and can live with low fees on top of that, MiFinity is definitely an alternative to the aforementioned providers!