29 Aug #InaNutshell: What is MyBank?

FOR PAYERS

FOR PAYEES

Immediate payment
➡️ Real-time transaction confirmation for both
payers and payees: no payment processing waiting times

Immediate certainty of payment
➡️ Transactions are irrevocable and with
real-time confirmation: you have immediate SCT collection
certainty, with no need to wait for processing times.
As a result, business processes are optimised

Pre-filled bank transfer form
➡️ Fast and frictionless: no need to type in
lengthy bank codes or further data

No amount limits
➡️ No maximum amount limit for the transactions,
provided the necessary funds are available on the payer’s
bank account: the ideal solution for mid-to-high tickets

No activation needed
➡️ No need for new registrations, additional
passwords or apps to download. Your existing credentials
for accessing the online banking service are everything you need

Simple and cost-effective integration
➡️ Easy and cost-effective to integrate: only a few
minor integrations are needed to implement it
on your e-commerce website

No amount limits
➡️ No maximum amount limit for your transactions:
payments of any amount are allowed as long as
the necessary funds are available on your bank account

Online payment collection even with no ecommerce
➡️ Available for activation through pay-by-link solutions:
digital payment collection is easily done with payment links
sent to payers via email, sms or via a QR code

Digital identity protection
➡️ Your personal data always remain safe,
with no third-party sharing

Compliance with PSD2, AML, FATF, GDPR EU Directives
➡️ No need to store sensitive data or make further
investments for law compliance

Secure transactions
➡️ Transactions via MyBank are secure:
its e-authorisation processes are based on
a SCA architecture and on up-to-date secure
web standards and protocols

With 100% automatic reconciliation
➡️ MyBank transfer form is fully pre-filled and the transaction
is irrevocable: payment data can never be confused, modified,
cancelled. As a result, cash flow is optimised

Traceable payments
➡️ All payments are recorded on your bank
account: any transactions can be monitored and traced

Minimised frauds and chargebacks
➡️ Thanks to Strong Customer Authentication (SCA)
systems, fraud and chargeback related risks are minimized

Anywhere and on any device
➡️ Based on SEPA (Single Euro Payments Area),
MyBank can be used throughout Europe and from
any device (pc, smartphone or tablet)

Increased conversions and average ticket
➡️ Frictionless, fast and secure payments with no
transaction amount limit result in an increase
of both conversions and average ticket value