MyBank is an electronic authorization technology, which enables buyer and seller to carry out safe online transaction at a pan-European level.
The go-live represents the first step of the launch of this pan-European electronic authorization technology for online payments across the Single Euro Payments Area (SEPA).
Payment service providers (PSPs) and e-merchants, providing the MyBank to their customers from March 2013, will be able to depend on the support of 16 integrators, which have decided to offer off-the-shelf technical services to PSPs and e-merchants.
The first joining window attracted financial institutions from three European countries, while nine of the participants belong to Italy.
Later in the same year, the company is planning to launch a mobile application and functionality supporting the creation or modification of e-mandates for SEPA Direct Debits.
Established by a consortium of 64 banks, EBA Clearing also manages one of the largest processing infrastructure for euro retail payments in terms of participation.
