Fibank launches MyFin digital wallet with Mastercard

By Megha Bhattacharya

Bulgaria-based Fibank (First Investment Bank) has teamed up with Mastercard to launch MyFin digital wallet, a platform for enabling fast money transfers and online payments. According to Fibank, the digital wallet users can apply for and be issued a digital debit card or a plastic debit card. The platform offers other features allowing users, in addition to standard money transfers, to exchange payments with other MyFin customers (peer to peer) and use payment links.

According to Fibank, the new development will allow MyFin customers to order their payments faster than traditional bank transfers. It offers real-time information on account balances and transactions performed, as well as 24/7 consultation with qualified live operators.

The company’s press release stated that “MyFin proudly supports the cause of reducing harmful emissions and environmental protection by implementing various initiatives. One of them is related to the plastic itself: MyFin uses innovative technology for production, in partnership with the company AUSTRIACARD. Cards are made of biodegradable material and delivered to customers in recycled paper packaging. And for every 100 plastic cards issued, MyFin commits to planting one tree.’

Recently, Mastercard signed an agreement with SEEBURGER in a bid to provide people and businesses across Europe more choice, flexibility and control across a range of real-time request to pay solutions, with an initial focus on Bill Payments. The collaboration will see the integration of Mastercard’s pay-based technology with SEEBURGER’s Business Integration Suite. The development will enable businesses to transform their billing and collection process for end customers. The agreement includes a six-month pilot project to test and ready the solution for the market, initially across Europe.