Twenty-eight banks participated in MyBank launch
The launch of the MyBank electronic payment scheme by EBA Clearing, which will enable customers to authorise online payment for goods and services directly from their e-banking interface, has been boosted by the inclusion of nine major Italian banking groups.
28 European banking institutions have committed to making the scheme available to all of their business and retail customers before the end of 2013.
Internet shoppers will be able to use the service to initiate Sepa Credit Transfers via their online or mobile banking service without the need to disclose their personal bank account or payment details to any third parties.
“By deploying MyBank, financial institutions across SEPA are supporting their customers in further unlocking the European e-commerce market. The solution provides the safe and familiar payment experience that many buyers require to successfully complete their Internet shopping,” said Giorgio Ferrero, Chairman of EBA CLEARING.
While today’s launch of MyBank will focus on the Italian market, the Paris-based EBA claims its pan-European service will be rolled out to additional member states during the course of 2013.
According to Roberto Liscia, president of Italy's e-merchant association Netcomm, the fact that the new e-payment method can be used both in Italy and across Europe makes it a very attractive solution for Italian e-commerce providers who wish to expand their business beyond their borders without increased risk of fraud.