Posts Tagged “SEPA”

iDEAL ready for SEPA

UTRECHT | The online payment method iDEAL is ready for the European payment market. All the banks that offer iDEAL have recently completed the migration process of converting iDEAL to the European (SEPA) standards. This marks an important step towards a uniform European payment infrastructure. The SEPA regulation obliges all banks and users of payment services to meet the European standards by 1 February 2014 at the latest. With the migration of the system iDEAL has already fulfilled this requirement, making it easier for foreign providers to connect to iDEAL.


As a payment service provider (PSP) the PAY4 offers merchants online services for accepting electronic payments by a variety of payment methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time bank transfer based on online banking. PAY4 is an Alternative Payment Transaction Provider, located in Frakfurt/Main, Germany (Headquarter) and Montreal, Canada. PAY4 is specialized on the technical realisation of alternative payment methods in the internet and enables global eMerchants to offer their european and international customers the preferred payment methods. 


MyBank enables online shoppers to initiate SEPA Credit Transfers via their regular online or mobile banking interface without the need to disclose their personal bank account or payment details to any third parties. MyBank is an electronic authorisation solution that makes it easier and safer to sell and buy goods and services over the Internet all across Europe. MyBank enables customers to pay for their online purchases via their regular online banking environment or the payment application of their payment service provider. 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. The solution is expandable 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 solu

Additional 6-Months Transition Period for SEPA migration

BRUSSELS | The European Commission has adopted a proposal to give an extra transition period of six months during which payments which differ from the SEPA format can still be accepted so as to minimise any possible risk of disruption to payments for consumers and businesses. The proposal does not change the formal deadline for migration of 1 February 2014.


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