PARIS - FRANCE | EBA CLEARING announced yesterday that four major Italian payment banks and a first bank from Luxembourg went live with MyBank, the pan- European payment method using the regular online banking environment to complete online purchases.
Another 18 financial institutions will join the MyBank solution on 29th July 2013. With these additional institutions joining, there will be 51 MyBank Participants in total, making MyBank available to over ten million retail customers only four months after the launch of the solution. The participating institutions are located in France, Italy and Luxembourg.
By the end of the year, over 100 more banks are expected to join the solution in Italy alone, in line with the Italian banking community’s commitment to roll out MyBank nationally. Financial institutions from other countries are making plans to join MyBank during 2014 after the SEPA migration.
At this stage, customers can use MyBank to make payments via their regular online or mobile banking interface without the need to disclose their personal bank account or payment details to any third parties. The third joining window for the MyBank SEPA Credit Transfer solution is open for registration and will start in September 2013. For a list of all financial institutions that are participating in MyBank, please go to www.mybankpayments.eu/N=MyBank-Participants.aspx.
In 2014, MyBank users will also be able to create, modify and cancel e-mandates for SEPA Core Direct Debits. A MyBank E-mandate Pilot will be kicked off in October 2013 and run until February 2014.
About MyBank and EBA Clearing
MyBank is an e-authorisation solution that makes it easier and safer to sell and buy goods and services over the Internet all across Europe. It enables customers to pay for their online purchases via their regular online or mobile banking environment. The solution is open to all authorised payment service providers in the Single Euro Payments Area (SEPA), including, without limitation, credit institutions and payment institutions.
MyBank is geared at supporting the initiation of e-payments via the SEPA instruments and may at a later stage also be used for transactions in other currencies or for e-identity services.
MyBank has been developed by EBA CLEARING, which also manages the solution. EBA CLEARING is a provider of pan-European payment infrastructure solutions owned by 63 of the major banks operating in Europe. For additional information about MyBank or EBA CLEARING, please visit: www.mybankpayments.eu or www.ebaclearing.eu
Tel: +49 151 16 31 15 26 (email@example.com)