Insight & Analysis

Press release: MyBank broke €10bn record in terms of total transaction value since its launch

Published: Apr 2019

2nd April 2019 – PRETA S.A.S. announced today that payment transactions for a total value of over EUR 10 billion have been initiated via MyBank since the launch of the pan-European e-authorisation solution in March 2013. While it took just under five years to reach the EUR 5 billion milestone, the value doubled within less than a year. On average more than EUR 14.5 million are transacted via MyBank every day.

MyBank is gaining ground across the EU and is widely used for transactions in business-to-business (B2B), business-to-consumer (B2C) and public administration contexts. The pan-European solution enables the initiation of secure online-banking based payments with no set amount limit1.

The MyBank value proposition fully responds to market needs: it provides businesses and consumers with a safe online payment solution directly from their online or mobile banking without disclosing any account details to third parties. MyBank helps merchants to protect their customers’ data while increasing the average ticket and expand their business cross-border.

The solution supports public administrations in their digitalisation efforts by providing their citizens with an easy-to-use and safe way to make paperless payments.

Its ease of access and convenience also make MyBank an ideal tool for merchants and customers that are not – or less – familiar with the digital processes to easily collect and send money.

“Reaching the EUR 10 billion mark is a major milestone in the development of MyBank. The frictionless user experience, the protection of the digital identity of its users and the real-time confirmation of the irrevocable transaction make MyBank a trusted solution for all stakeholders involved in the transaction process,” said Tarik Zerkti, Managing Director of PRETA S.A.S., the company that owns and manages MyBank.

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