MyBank Payments hits EUR 5 billion milestone

PRETA S.A.S announced today that MyBank Payments has enabled the initiation of payment transactions for a total transacted value of over EUR 5 billion since its launch in March 2013.

This milestone confirms the accelerating growth of the pan-European e-authorisation solution for SEPA Credit Transfers, as over 50% of this transacted value was achieved in 2017 alone.

MyBank is used for both Business-to-Business (B2B) and Business-to-Customer (B2C) transactions across a wide range of industries on a pan-European scale, where it is valued as easy to implement, easy to access and easy to use. The solution enables the online and mobile initiation of local and cross-border payments and has a growing footprint in Italy, Greece, Spain, France and other EU countries.

“MyBank has been performing extremely well over the last few years and reaching the €5 billion milestone confirms its growing market traction across Europe. Our service suite, which supports e-payment, e-mandate, digital stipulation of contract and identity verification, meets key business and consumer needs in the digital economy,” said Giorgio Ferrero, CEO of PRETA.

With MyBank Payments, consumers and businesses alike can pay from their bank account simply and securely without disclosing any account details and with no amount limit, while the recipients of a payment can be certain to be paid as they receive confirmation in real time that the payment has been initiated.

MyBank is an e-authorisation solution for the exchange of financial and non-financial information. The solution supports online banking-based payments via SEPA Credit Transfer, the creation, amendment and cancellation of SEPA Direct Debit mandates and identity verification services.

MyBank is an e-authorisation solution that enables customers, companies and public authorities to make payments and collect money online using home banking or mobile channels.

The solution, which is gaining ground across the EU, is open to all authorised payment service providers (PSPs) in the Single Euro Payments Area (SEPA), including credit institutions and payment institutions.

The solution supports online banking-based payments via SEPA Credit Transfer (MyBank Payments) as well as the creation, amendment and cancellation of SEPA Direct Debit electronic mandates (MyBank Mandates). MyBank can also support PSPs in providing identity verification and digital contract stipulation services.

MyBank is owned and managed by PRETA S.A.S., a wholly owned subsidiary of EBA CLEARING, a provider of pan-European payment infrastructure solutions.