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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 [email protected]
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.