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MX Powers Account Verifications for FuturePay

LEHI, UT – July 26, 2022 – MX, a leader in Open Finance, today announced it will

provide data cleansing and Instant Account Verification (IAV) for FuturePay’s MyTab™, a

digital revolving credit platform for online merchants and their customers.

MyTab helps online shoppers across the U.S. apply once for a credit line that they can

use for a lifetime to make purchases with any merchant in the FuturePay network.

The MyTab solution improves upon traditional credit cards and “Buy Now, Pay Later”

(BNPL) offerings for e-commerce transactions. While MyTab is like BNPL in that it is

purpose-built for e-commerce use by delivering instant credit decisioning and financing,

it also provides attributes similar to credit cards, such as offering flexible long-term

payment options with a “tab” for a credit line of $1,000 to $5,000 that a shopper can use

and reuse for as long as they keep their account in good standing.

“Since we are providing long-term credit, FuturePay is required to be much more

rigorous with customer underwriting than traditional BNPL installment loan providers,

which is why we chose MX,” said Tim Harris, CEO of FuturePay. “MX has an award-

winning data engine to cleanse and categorize our customers’ transaction data, helping

us verify people based on their consumer behavior. Our need to know their financial

profile over the long haul is where MX will really pay off.”

With MX, MyTab merchants can deliver customers the frictionless e-commerce

experience they’ve come to expect and ensure they can accurately confirm their identity

and financial information with seamless connections to financial data. FuturePay also

plans to leverage MX for additional data insights, such as credit worthiness, to drive

even more sophisticated credit underwriting for e-commerce merchants and their

customers.

“This integration demonstrates our shared commitment to power the open finance

economy by enabling our customers to seamlessly connect consumers with financial

products to meet their needs, opening up new ways to make purchases, backed by

enhanced data and IAV from MX,” said Raymond den Hond, EVP of Customer

Experience, MX. “FuturePay provides a flexible long-term financing option for online

shoppers, which is an interesting alternative to BNPL and traditional credit cards.”  

To learn more about how to become an MX partner, please visit www.mx.com/partners

or contact the team at partnerships@mx.com.

About MX

MX Technologies, Inc., a leader in Open Finance, helps organizations everywhere connect to

the world's financial data and turn raw, unstructured data into their most valuable asset to

deliver intelligent and personalized money experiences. MX connects more than 13,000

financial institutions and fintechs providing the industry's most reliable and secure data

connectivity network. Additionally, MX powers 85% of digital banking providers, as well as

thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million

consumers. To learn more follow us on Twitter and LinkedIn @MX or visit www.mx.com.

About FuturePay

Headquartered in South Jordan, Utah, FuturePay Holdings Inc. is the provider of

MyTab™️, an innovative digital revolving credit platform that delivers a secure, cost-

effective, and easy-to-implement cardless financing option for e-commerce merchants and

their customers. Unlike traditional Buy Now Pay Later platforms that provide installment

credit loans for a single purchase, FuturePay customers apply once for a revolving credit

line which they can use and reuse over the long-term for purchases on any website

accepting MyTab as a payment method. For more information visit www.futurepay.com.



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