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Magnetiq Bank has become Mily’s official payment partner, providing e-wallet services and a reliable payment infrastructure. This collaboration enables Mily clients to manage their payments even more easily and quickly.
Mily is a free platform for families with children, bringing together in one place the ability to conveniently find, subscribe to, and pay for essential everyday services – such as school and kindergarten catering, extracurricular education, sports activities, and other family-oriented services.
Currently, more than 70,000 families in Latvia use Mily’s services, in cooperation with over 350 educational institutions.
As part of the collaboration, all Mily users already have virtual accounts with Magnetiq Bank, allowing them to top up their e-wallets by making transfers to a Latvian bank account. This means that money appears in the Mily e-wallet within minutes regardless of the time of day, weekends, or holidays.
Magnetiq Bank’s modern infrastructure ensures uninterrupted payment flows, making transfers simpler and more reliable, while significantly improving users’ everyday payment experience.
“This partnership perfectly reflects our strategic direction – to support innovative solutions tailored to modern needs by providing them with stable and reliable banking infrastructure,” emphasizes Deniss Fiļipovs, Management Board Member of Magnetiq Bank. “The collaboration with Mily is a great example of how, by combining expertise and technology, it is possible to create an efficient and sustainable payment ecosystem in a very short time. We are truly proud to be part of this modern and family-friendly service.”
“This collaboration is the result of intensive and close work – the entire technical integration was carried out in a very short time. We would especially like to highlight the professionalism of the Magnetiq Bank team, their ability to listen and adapt to our needs, as well as their genuine commitment to jointly creating a sustainable and efficient payment solution for our clients,” notes Imants Felsbergs, representative of Mily.
About Magnetiq Bank
AS Magnetiq Bank is a Latvian bank focused on serving the needs of fintechs, startups, and e-commerce service providers by offering banking infrastructure, segregated accounts, payment solutions, and lending services to support their growth. The bank’s mission is to foster the development of the startup and e-commerce sectors through innovative technology and exceptional customer service. Magnetiq Bank is part of the Signet Bank Group, with its sole shareholder being Signet Bank AS, Latvia’s leading investment bank focused on financing and attracting investment for local entrepreneurs and their companies.
About Mily
Mily is a free platform for families with children, bringing together in one place the ability to conveniently find, subscribe to, and pay for essential everyday services – such as school and kindergarten catering, extracurricular education, sports activities, and other family-oriented services.
The platform is managed by Paytegra SIA, a licensed electronic money institution supervised by the Bank of Latvia. Paytegra is part of Corporate Solutions, one of Latvia’s leading IT groups, founded in 2006 and specializing in the development of modern, technologically advanced solutions for both the public and commercial sectors.
