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MyBank’s transaction volumes cross over EUR 15 billion

MyBankMyBank, the pan-European payment solution has crossed over EUR 15 billion in terms of total transaction value. The solution offered by MyBank enables users to make e-payments through their internet banking.

“In 2019, MyBank continued its upward path in a highly competitive and evolving landscape, where new consumer needs, new regulations, new technologies and new players are urging the market to thoroughly review financial services and business models,” commented Giorgio Ferrero, CEO of PRETA, the company that owns and manages MyBank.

He further mentioned, “MyBank’s 2019 results encourage our modus operandi, where customer security and data protection meet usability to bring value to the users, ensuring a frictionless customer experience and helping merchants to grow thanks to the increased trust generated by MyBank.”

The economic value of the transactions grew by 50 percent in over six months and, concurrently, daily transactions saw an increase reaching to an average of EUR 19 million daily. MyBank saw an increased use of its payment solutions in B2B and B2C industries.

MyBank was launched in March 2013 and it is headquartered in Paris. It allows consumers to use their access credentials and make online payments directly from their internet banking, with no sensitive data shared to third parties. Online purchases or payments can be completed in from any device and furthermore an immediate confirmation is provided for buyers and sellers.

The solution is open to all authorised payment service providers (PSPs) in the Single Euro Payments Area (SEPA), including credit institutions and payment institutions. It supports online banking-based payments via SEPA Credit Transfer as well as the creation, amendment and cancellation of SEPA Direct Debit electronic mandates. MyBank can also support PSPs in providing identity verification and digital contract stipulation services.

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