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Online Payments

MyBank-initiated payments hit EUR 10 billion milestone

Tuesday 2 April 2019 | 01:07 PM CET

PRETA has announced that payment transactions for a total value of over EUR 10 billion have been initiated via MyBank since the launch of the pan-European e-authorisation solution in March 2013.

While it took just under five years to reach the EUR 5 billion milestone, the value doubled within less than a year. On average more than EUR 14.5 million are transacted via MyBank every day.

MyBank is gaining ground across the EU and is widely used for transactions in business-to-business (B2B), business-to-consumer (B2C) and public administration contexts. The pan-European solution enables the initiation of secure online-banking based payments with no set amount limit.

The MyBank value proposition provides businesses and consumers with an online payment solution directly from their online or mobile banking without disclosing any account details to third parties. MyBank helps merchants to protect their customers’ data while increasing the average ticket and expand their business cross-border.

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