EBA Clearing inks MyBank deal with Italy's ICBPI

Source: ICBPI

Italy's Istituto Centrale delle Banche Popolari Italiane (ICBPI) announces a new agreement with EBA Clearing in order to speed up participation of its banks in the pan-European MyBank circuit.

In this way, ICBPI - Pilot bank and Payment Service Provider of MyBank - will also act as registering agent, being a focal point for its reference banks and therefore ensuring an "end to end" service.

MyBank is a pan-European initiative which allows current account holders of member banks to use SCT and SDD payment instruments for their online purchases on the web. Users will have not to provide sensitive data during online purchasing process, such as their credit card number or IBAN code; but whole process is managed through their own online banking, i.e. using a familiar and safe system, also accessible from mobile devices.

Thanks to its technological infrastructure and operating services (ICT, back-office), ICBPI will allow client banks to use MyBank minimizing the relevant technical-operational impacts, offering an innovative service with minimum management costs.

In its capacity as Systemic Bank and leader in payment services, ICBPI decided to invest in the MyBank project since it is highly innovative and therefore ensures easy participation at a minimum cost.

"Our immediate participation in the MyBank project and this new agreement prove the strength of our partnership with EBA Clearing. MyBank is not just an innovative e-commerce solution, but it is also a further step towards harmonisation of payment systems within Eurozone in compliance with Sepa" - says Salvatore Borgese, ICBPI sales director. "Thanks to this further agreement we are proud to confirm our commitment to the initiative with aim of ensuring innovative services to our banks with minimum development impact and running costs. MayBank is a great business development opportunity for online payments market both for banks and their retail and corporate customers."

"It is great news that ICBPI is on board with MyBank" - says John Broxis, director, EBA Clearing. "They have an extremely wide coverage of banks in Italy bringing MyBank a significant share of the accounts in Italy. At the same time, due to their capacity and experience of Carta Si, we expect this to facilitate the delivery of MyBankt to merchants."

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