EBA CLEARING launches MyBank technical pilot
by Kylene Casanova
The new Online Banking ePayment (OBeP) systems allow consumers to make purchases using their most trusted financial institutions - their banks. With this approach, consumers don't have to share their personal information with merchants and can pay for goods directly from their bank accounts. Usage of ObeP services is growing, established domestic services, such as Netherland's iDeal service, are becoming more popular and service suppliers are now providing their services in many countries.
The EBA wants a part of this market. EBA CLEARING announced at the Global E-Commerce Summit in Barcelona the start of its MyBank Technical Pilot - their ObeP service multi-country service. Banks from Austria, France, Greece, Italy and Luxembourg will participate in the testing, which will take place from June to October 2012.
In co-operation with merchants, customers, integrators and routing service providers involved in the testing, the Pilot Banks will ensure that the different components of MyBank work together seamlessly and give an excellent end-user experience before the solution is rolled out to the market in early 2013. The proper functioning of the solution will be tested both at a national and at a cross-border level.
In a first phase, MyBank will support the initiation of SEPA Credit Transfers via browser-based applications. A mobile application and functionality supporting the creation or modification of e-mandates for SEPA Direct Debits are planned to follow later in 2013.
This is an important initiative, but EBA will need to get a move on, or they will find this market niche has been taken up by other solutions from companies such as SafetyPay and eWise.
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