Easy to implement and cost effective
MyBank integrates easily into every e-business
The activation of MyBank on your website requires few integrations and investments. You will only need to install a component providing the necessary web infrastructure, connectivity to your bank, and services for reporting and reconciliation of the transactions processed. This component can be offered by your bank or through your existing payment gateway.
MyBank integrates fully within an existing payment gateway infrastructure requiring little investment and process adaptation for upgrade (service provider program).
And if you do business in multiple European countries, you can take advantage of the ability to negotiate fees for all European volumes.
MyBank is cost effective
Transactions through MyBank are certain since customers authorize their payments in the secured online banking environment of their bank through a two-factor authentication process. This means lower fraud prevention costs for you as well as a reduction in dispute resolution and chargeback costs related to fraud. And with MyBank, you do not need to invest in handling or storing any confidential data related to your customers thereby reducing your security related investments.
Fees for MyBank are moderate due to the fact that the solution leverages on existing infrastructure and requires few additional investments on the part of banks to set up and maintain. Beyond this, there is no interchange fee between participating banks and the underlying SEPA payment instruments are highly efficient and cost effective. Eventual usage fees for MyBank are determined between individual e-businesses and their seller banks.