First banks and service providers sign up for MyBank Mandates

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MyBank has announced it has opened the doors for registrations for its Mandate service which is scheduled to go live on 27th October 2014.

Sanpaolo and UniCredit were the first banks signing up for the solution and declaring that they will go live at the launch date of the MyBank Mandate service. The go-live is also supported by ICBPI, SIA and Worldline; these service providers will assist financial institutions and merchants across Europe in connecting to the new mandate solution from October.

“Electronic mandates are the missing link for offering payment via SEPA Direct Debit in an e-commerce context. MyBank Mandates will fill this gap by providing a pan-European mandate solution that can be conveniently used online. We look forward to rolling out the solution to banks and online businesses across the European Union.” Said, Wolf Kunisch, Head of Financial Processing & Software Licensing, Worldline.

Chairman of PRETA, Giorgio Ferrero, said: “Mandates are the next stepping stone for MyBank, which takes us beyond the basic authorisation of credit transfers. From the creation of mandates, MyBank will move into the provision of identity and authentication services that will support corporates in carrying out due diligence checks with regard to their customers.”

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