Eleven financial institutions from Italy, France and Luxembourg are lined up to participate in the live launch of MyBank, a new online payments service from EBA Clearing which will open for business on 25 March 2013.
EBA Clearing's ambition for MyBank is to create a pan-European electronic payments service for online shopping, enabling buyers and sellers to complete transactions through their e-banking portals.
Nine of the banks participating in the first phase switch over are from Italy, with France's BRED Banque Populaire and an un-named bank from Luxembourg providing an international flavour.
EBA Clearing says payment service providers and e-merchants who wish to join the programme will be able to rely on the support of 16 integrators who are committed to delivering off-the-shelf packages for direct bank connections from day one.
Giorgio Ferrero, chairman of EBA Clearing, says: "This first joining window marks only the first step towards rolling out MyBank to e-merchants and retail customers all across Europe and we are confident that more payment service providers in other European countries will join the solution throughout 2013."
The March 2013 go-live follows the successful completion of the MyBank pilot in November 2012, and the transmission of the first cross-border test transaction at Finextra and EBA's annual EBAday
event in May earlier this year.
In the 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 in the course of 2013.