Expand and innovate services
MyBank is not a payment instrument in itself, but rather an e-authorisation solution which enables the use of the online banking environment for secure online transactions and identity protection. MyBank promotes a single ecosystem for the delivery of rich digital services: Banking customers can use their secure online banking systems to pay for goods through credit transfers, to manage direct debits for online billing, to transfer money through their mobile devices and to authenticate their identity online.
MyBank puts European Banks and other Payment Service Providers at the heart of the European digital economy by bringing them together into a single infrastructure with an integrated set of standards and rules to offer real time online payments and identity authorisation across Europe. It allows Banks to cost effectively leverage on previous investments made in the online and mobile channels to offer secure identity and payment solutions to their customers and it enables all Payment Service Providers to increase their offering of innovative online payment solutions.
With MyBank, Payment Service Providers can offer an online solution which:
- Satisfies consumers’ needs for an easy and secure e-payment method and the protection of their identity and personal data
- Responds to e-businesses’ call for a pan-European solution which facilitates the use of SEPA instruments
- Supports public administrations’ capacity to roll out e-payment and e-identity solutions for the development of e-government services
- Responds to the call from regulators to enable innovation beyond SEPA
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