MILAN | E-payments based on MyBank will become available to millions of customers and thousands of e-merchants in Italy before the end of 2013.
The major Italian payment banks announced today their commitment to delivering the MyBank solution to merchants, public institutions and retail customers across Italy before the end of 2013. Nine Italian banking groups, representing 27 participating institutions, were part of the launch of EBA CLEARING’s pan-European e-authorisation solution, which took place this morning.
The announcement marked the first step of a nation-wide roll-out by the Italian banks of electronic payment products based on the MyBank solution. MyBank- based services will enable online shoppers to conveniently pay via online banking all over Italy as well as at the pan-European level.
“By deploying MyBank, financial institutions across SEPA are supporting their customers in further unlocking the European e-commerce market. The solution provides the safe and familiar payment experience that many buyers require to successfully complete their Internet shopping,” said Giorgio Ferrero, Chairman of EBA CLEARING.
“The MyBank solution will as well generate important cost savings for public agencies, utility companies and other billers. It will help them to further automate their billing processes while facilitating their customers’ payment initiation through their online banking,” said Gilbert Lichter, Chief Executive Officer of EBA CLEARING.
“The Italian e-merchant community looks forward to an e-payment method that combines high conversion rates and reach with low fraud levels,” said Roberto Liscia, President of Italy’s e-merchant association Netcomm. “And the special beauty about MyBank is that it can be used both in Italy and across Europe. This makes it a very attractive solution for Italian merchants wishing to expand their business beyond our borders without having to face increased fraud risks.”
“With MyBank, we are introducing an additional e-payment method to the Italian market, which will particularly appeal to customers who do not feel comfortable using any of the existing solutions when shopping online,” said Giuseppe Capponcelli, General Manager, Istituto Centrale delle Banche Popolari Italiane (ICBPI). “As an e-authorisation solution, MyBank has a large potential and provides the opportunity to initiate or secure other online transactions besides SEPA payments.”