The Asian Banker

Banks to go live with EBA Clearing's MyBank solution
Dec 24, 2012

Paris, December 19th 2012 - EBA CLEARING announced today that 11 financial institutions, from Italy, France and Luxembourg, have decided to join the MyBank solution for its launch on 25th March 2013, making the MyBank solution available to millions of retail customers and thousands of e-merchants. The go-live will mark the first step of the roll-out of this pan-European electronic authorisation solution for online payments across the Single Euro Payments Area (SEPA).

Payment service providers (PSPs) and e-merchants offering the MyBank solution to their customers from March 2013 on will be able to rely on the support of 16 integrators, which have declared that they will offer off-the-shelf technical solutions to PSPs and e-merchants wishing to offer the solution from
day 1.

Nine of the participants in the first joining window are located in Italy. This will provide a solid basis for the solution to be quickly accepted throughout Europe. “We are very pleased that MyBank will become available to a vast user community in Italy right from the beginning, so consumers and businesses can immediately benefit from this safe and simple solution when shopping or selling on the Internet”, said Giorgio Ferrero, Chairman of EBA CLEARING. “This first joining window marks only the first step towards rolling out MyBank to e-merchants and retail customers all across Europe and we are confident that more payment service providers in other European countries will join the solution throughout 2013.”

The go-live of the solution in March 2013 follows the successful completion of the MyBank pilot in November 2012. In a first phase, MyBank will support the initiation of SEPA Credit Transfers via browser-based applications. A mobile application and functionality supporting the creation or modification of e-mandates for SEPA Direct Debits are planned to follow in the course of 2013.

MyBank is an electronic authorisation solution that will make it easier and safer to sell and buy goods and services over the Internet at a pan-European level. MyBank will enable customers to pay for their online purchases via their regular online banking environment or the payment application of their payment service provider.


Re-disseminated by The Asian Banker

Categories: Technology & Operations, Transaction Banking
Keywords: EBA Clearing

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