MyBank-initiated payments in Greece exceed EUR 15 million
The pan-European e-authorisation solution has been growing at a fast pace in the Greek market since the beginning of the year, registering a 55% increase of transaction values per month on average
Athens and Paris, 25 September 2017 – Today, the Hellenic Bank Association (HBA) and PRETA S.A.S. announced that goods and services amounted EUR 15 million have been paid through MyBank solution in Greece since the beginning of the year. This steep increase in the MyBank transaction values confirms the notable market penetration that this pan-European e-authorisation solution for the initiation of secure online payments has achieved among Greek consumers and businesses within a short period of time.
The service has been widely deployed across Greece since early 2017 and is currently offered by four member banks of the Hellenic Bank Association: Piraeus Bank, National Bank of Greece, Alpha Bank and Eurobank Ergasias. From January 2017 to August 2017, MyBank has registered a remarkable overall increase in terms of transaction values and a growing adoption rate among businesses operating in Greece. With a transaction authorisation rate of 80%, the average value of each payment made via MyBank is EUR 220, while the payment with the highest value was for over EUR 11,000.
“Under the difficult circumstances for the Greek banking system, our member banks have taken a strategic decision to boost payments in an e-commerce environment by offering secure, fast and low-cost integration payment service to consumers and businesses in our country,” said Mrs. Haroula Apalagaki, Secretary General at the HBA.
“The promising growth of MyBank in Greece shows that our solution meets the needs of the market in terms of reliability, trust and speed. MyBank offers a seamless user experience, which makes it well-suited for payments both at a national level and across SEPA,” said Mr. John Broxis, Managing Director at PRETA S.A.S., the company that owns and manages MyBank.
MyBank is currently available in four member states of the European Union – Greece, Italy, Spain and France – and registers a steady growth rate in all markets.
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The Hellenic Bank Association is the representative body of the vast majority of Greek and foreign credit institutions that operate in Greece. It was established in 1928 and is a non-profit legal entity. It expresses the views of its member banks, provides advisory input to the regulatory process, participates in the decision-making procedures of international, European and national law-preparing and technical committees, and cooperates with other countries’ organisations and associations of the financial sector in the context of bilateral or multilateral agreements. The HBA focuses on the collective modernisation of its member banks and the overall development of the financial services sector.
Currently, the HBA comprises 16 members, of which 7 are regular and 9 are associate members.
MyBank is an e-authorisation solution that enables customers, companies and public authorities to make payments and collect money online using home banking or mobile channels.
The solution, which is gaining ground across the EU, is open to all authorised payment service providers (PSPs) in the Single Euro Payments Area (SEPA), including credit institutions and payment institutions.
The solution supports online banking-based payments via SEPA Credit Transfer (MyBank Payments) as well as the creation, amendment and cancellation of SEPA Direct Debit electronic mandates (MyBank Mandates). MyBank can also support PSPs in providing identity verification and digital contract stipulation services.
MyBank is owned and managed by PRETA S.A.S., a wholly owned subsidiary of EBA CLEARING, a provider of pan-European payment infrastructure solutions.
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