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Financial institutions from Italy, France and Luxembourg to embrace MyBank platform

The pan-European payment infrastructure services provider EBA Clearing has partnered with 11 financial institutions, from Italy, France and Luxembourg, to join the launch of MyBank technology, scheduled on 25 March 2013.

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.