MyBank service provider programme unveiled by EBA Clearing ahead of launch

11 March 2013

A MyBank service provider programme has been launched by EBA Clearing to offer infrastructure, IT and mobile technology support or consultancy services to the MyBank participants. The initiative, which is an electronic e-payment and authorisation solution from 64 European banks and counting, which allows consumers to pay for shopping via the internet without sharing account details, is due to launch on 25 March 2013.

EBA Clearing is providing back-end payments processing capabilities and says it has 14 service providers signed up to its programme to offer technology and support services to users. The MyBank initiative will support electronic e-payments via the SEPA Credit Transfer (SCT) format from its start on 25 March, when 29 banks including UniCredit Spa, Rabobank and RBS among others will go live. The second joining window for MyBank opens on 15th April 2013 when the remaining 35 European banks that are part of the electronic e-authorisation ecosystem will go live, with others being invited to join all the time.

By the end of this year, MyBank users, including merchants which are part of the ecosystem, will also be able to create, modify and cancel electronic e-mandates for the single euro payments area (SEPA) Direct Debit (SDD) scheme, further aiding compliance efforts.

The service provider programme from EBA Clearing has been established to facilitate the easy exchange of information within the MyBank ecosystem, maintains the organisation.

“We are very pleased that 14 service providers have already developed IT solutions to support payment service providers and merchants in their preparations for the MyBank live date and the subsequent ramp-up period,” said John Broxis, director of EBA Clearing. “Our service provider programme will make it easier for providers to ensure that their products meet the needs of the MyBank users. It will give them access to our technical documentation, our events and workshops and – if they sign up to the self-certification programme – to the MyBank test environment.”

The MyBank self-certification programme will enable service providers to self-certify their infrastructure based on a testing program carried out with the support of the MyBank test tools. The self-certification allows them to position their infrastructure services in the market as compliant with the MyBank specifications, as well as with the technical, business and security requirements of the solution.

MyBank is an electronic e-authorisation solution that will make it easier and safer to sell and buy goods and services over the Internet all across Europe. Customers from participating European banks, which is by no means all yet, will be able to pay for their online purchases via their regular online and mobile banking environment via a ‘single source’. Alternatively, payment applications from payment service providers (PSPs) can be used and as many merchants as possible are being signed up to the SEPA-compliant scheme as possible. For more information on the initiative visit www.mybankpayments.eu.

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