Opportunities for innovation
Online merchants and businesses have been calling for pan-European, e-payment solutions to help overcome the current challenges to growth. MyBank responds to this call by offering:
- Pan-European reach through online authorisation of SEPA Credit Transfers and Core Direct Debits
- High conversion rates thanks to consumer trust in their own online banking portal
- Real-time confirmation that payment has been successfully authorised
- Protection against fraud and reduction of elated costs due to the double authentication process required for payment authorisation
"For online business, MyBank is a promising new solution where banks and other payment service providers can bring added value to the payment process. We at Atos Worldline have a proven track record in online-banking based e-payments, processing close to 100 million of transactions annually already. It is an evident move for us to support the MyBank initiative with a compliant and reliable solution."
Director Banking Central Europe
Because of these benefits, MyBank has been embraced by Service Providers working with online businesses and PSPs to develop state of the art online and mobile payment solutions. A number of payment gateways are currently working on integrating MyBank into their payment solution portfolios to make it easily available through their acceptance services and back office tools. Several IT providers have also announced the development of plug-and-play solutions to support PSPs in the routing and validation of MyBank transactions.
MyBank is thus opening up business opportunities for Service Providers across Europe and allowing them to offer new value added solutions to their clients from e-mandate management for SEPA Core Direct Debits to online identity authentication.
And in the future MyBank will expand into a new set of digital services including person-to-person payments, e-invoicing, payment on delivery and the generation of payments in non-euro currencies.
In order to help Service Providers distinguish themselves in an increasingly competitive marketplace, MyBank offers a Service Provider Program to provide them with optimal support through thoroughly tested, MyBank compliant solutions. To read more about the MyBank product portfolio, click here.