EBA Clearing has performed the first test transaction between two banks of the MyBank online payment scheme at the annual EBAday event in Edinburgh.
A year after announcement and six months before consumer launch, do we know if myBank's fees for merchants will be much lower than card MDF?
In my last year's Finextra post "Why I Think EBA Clearing's myBank Will Be A Hit", I'd wondered if myBank would be available for intra-country transactions.
Do we know now if this is indeed the case? The experience of SEPA SCT and SDD in the intervening period clearly suggests that cross-border, B2C EURO payments are not as widespread as hitherto assumed, so myBank might be able to achieve mainstream adoption
only if it supports and promotes itself for domestic payments as well.
© Finextra Research 2014