MyFinity Partners With Convera to Increase Global Coverage

MiFinity has partnered with Convera to increase the country coverage of its PayAnyBank (PAB) service.

The integration of Convera’s B2B cross-border payments capabilities into MiFinity’s PAB service furthers MiFinity’s commitment to providing cross-border payment solutions to its global customer base, the company said in a Tuesday (Dec. 12) press release.

“This collaboration allows us to increase our country coverage, empowering more global customers and merchants to make secure cross-border and in-country payments directly from their MiFinity eWallet to a recipient’s bank account,” Paul Kavanagh, CEO at MiFinity, said in the release. “It aligns perfectly with our mission to provide convenient secure and accessible financial solutions to our users and merchants worldwide.”

The MiFinity-Convera collaboration will provide both consumers and merchants with several payment solutions, according to the release.

As a global payments provider, MiFinity offers a range of payment solutions, has a growing network of international partner relationships and provides a technology platform that is secure and regulated, the release said.

“MiFinity’s online eWallet targets the online gaming, travel, Forex and eCommerce sectors,” the press release said. “It is a fast, simple and secure way for customers to perform transactions with multiple local payment options in different currencies.”

The company’s new partner, Convera, provides payments services and foreign exchange (FX) products to companies of all sizes, per the release. It offers access to more than 140 currencies, has a financial network spanning more than 200 countries and territories, and provides payments solutions to more than 30,000 customers, ranging from small businesses to enterprises.

PYMNTS Intelligence has found that businesses believe that cross-border payments innovation can deliver cost reduction, enhanced cash management and fraud protection.

Among the innovations these businesses plan to implement for making payments and securing these benefits are push payments, digital wallets, automating payables and enabling business partners to choose how they would like to receive payments, according to “Innovating Cross-Border Payments: Innovation Drivers,” a PYMNTS and Visa collaboration.

In another recent partnership, Convera teamed up with human capital management solutions provider ADP to provide an end-to-end payroll and payments solution to ADP clients.

Together ADP and Convera will enable ADP clients to manage payroll and payments processes through one integrated platform.