The full MyBank e-mandate service launches on 27th October, see, and will provide:

• an e-payment service e-payment service allows a company user to obtain a real time authorisation for the transfer of funds from a customer’s bank account to the online business’ bank account using a SEPA Credit Transfer. 
• consumer users with the full e-mandate security to sign up Direct Debits, confirm your identity or make payments.

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The MyBank mandates cover varying needs:

• SDD CORE and CORE1 mandates
• SDD B2B mandates
• SDD CORE mandates with waived automatic refund rights.

Banks and service providers are signing up

The latest announcement was from Worldline, an Atos subsidiary for e-payment services, who has just announced the introduction of an electronic mandate service for SEPA, supporting MyBank, a pan-European e-payments framework.

In the new Worldline e-SEPA services, consumers can pay for their orders online through a direct debit or a credit transfer. With MyBank, Worldline provides routing services enabling merchants to redirect customers to their banks and validation services on the customer’s bank’s side to provide authentication.

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CTMfile take: When is your organisation going to adopt MyBank e-mandates?