ITALY | Four thousand merchants will go live with MyBank during the next few weeks via Gestpay, Banca Sella Group’s gateway solution. The merchants cover all sectors of Italian commerce, such as tourism, fashion and technology. MyBank allows Italian shoppers to pay for goods and services directly from their online bank account.
New way to accept online payments
With MyBank - already available to millions of European bank account holders - merchants will have a new way to collect funds with reduced fraud risks and greater certainty. MyBank is an e-authorisation solution that enables customers to pay for their online purchases via their regular online or mobile banking environment.
Merchants using MyBank will be able to collect funds throughout Europe where banks have implemented MyBank. “MyBank has impressed us with its great conversion rates and ability to handle amounts that are too high to be easily settled via other methods of payment”, says Alessandro Bocca, Head of Online Payments, Banca Sella.
MyBank Mandates launches in October 2014
In May this year, MyBank announced it successfully tested its e-Mandates solution, enabling businesses across Europe to electronically gather permissions from consumers and businesses to debit their bank account. MyBank Mandates provide a simple way to agree online and in real time that the bank account can be debited. These so-called e-Mandates help retailers and business across Europe to initiate SEPA Direct Debits. The e-Mandates service will be launched in October 2014.
Sourced from MyBank, June 30th, 2014