This milestone confirms the accelerating growth of the pan-European e-authorisation solution for SEPA Credit Transfers, as over 50% of this transacted value was achieved in 2017 alone.

MyBank is used for both Business-to-Business (B2B) and Business-to-Customer (B2C) transactions across a wide range of industries on a pan-European scale, where it is valued as easy to implement, easy to access and easy to use. The solution enables the online and mobile initiation of local and cross-border payments and has a growing footprint in Italy, Greece, Spain, France and other EU countries.

“MyBank has been performing extremely well over the last few years and reaching the €5 billion milestone confirms its growing market traction across Europe. Our service suite, which supports e-payment, e-mandate, digital stipulation of contract and identity verification, meets key business and consumer needs in the digital economy,” said Giorgio Ferrero, CEO of PRETA.

With MyBank Payments, consumers and businesses alike can pay from their bank account simply and securely without disclosing any account details and with no amount limit, while the recipients of a payment can be certain to be paid as they receive confirmation in real time that the payment has been initiated.

MyBank is an e-authorisation solution for the exchange of financial and non-financial information. The solution supports online banking-based payments via SEPA Credit Transfer, the creation, amendment and cancellation of SEPA Direct Debit mandates and identity verification services.