EBA CLEARING has announced 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. Paul Alfing, chair working committee e-payments Ecommerce Europe : “We are very pleased with this development and it is an important step to boost cross border e-commerce within Europe. This will broaden the reach of web merchants and contribute to a higher conversion”.
The first joining window attracted financial institutions from three European countries and 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. Alfing: “It is a good start and we hope that throughout 2013 more PSPs in other European countries will join MyBank”.
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.