MyBank e-payment allows a Business or Public Authority to receive a real time confirmation for the transfer of funds from a customer’s bank account to the online business’ bank account using a SEPA Credit Transfer.
MyBank works firstly with Euro denominated SEPA credit transfers
It can be configured to confirm a SEPA credit transfer in euros, a transactions in pounds, krona, florins, Swiss francs or any other currency.
The forthcoming “Payments Services Directive 2”
Will oblige banks to allow their customers to make payments from their account via third party payment service providers who are acquiring payments for a Merchant or Public Authority. MyBank provides a service infrastructure to enable this using a redirection protocol and the bank’s existing internet banking.