Greek banks to offer MyBank for internet and mobile payment transactions
The Hellenic Bank Association (HBA) and MyBank announced today that the four systemically important banks in Greece will be adopting the MyBank online payment solution in 2015, aiming to become operational before the end of the year.
The participating banks will be Piraeus Bank, National Bank of Greece, Eurobank and Alpha Bank, with a market share coverage of more than 90% of the Greek market. MyBank will offer to the key stakeholders of the Greek e-commerce market (e-customers, private and public sector e-merchants and participating banks) an additional payment option next to payment cards, to complete their online shopping experience in a simple, efficient and secure manner. In addition, the MyBank online payment solution will extend the reach of the participants in a steadily growing local and pan-European e-commerce market.
| “E-commerce is set to grow rapidly in Greece at a rate of 50 to 60% per year, and it is essential that we provide consumers with secure and reliable ways of making payments. The cross-border aspect is especially welcome to e-merchants from the airlines and traveling sector in Greece as it offers them the opportunity to expand sales of their products and services to a pan-European level in a reliable and secure way,” said Prof. Christos Gortsos, Secretary General at the HBA. |
“It is very good news that the major Greek banks are joining the MyBank infrastructure, which allows online and mobile payments from the bank account. This joint action immediately provides reach to e-sellers and buyers within Greece and makes Greek web-stores and online providers more easily accessible to customers from abroad,” said John Broxis, Managing Director at MyBank.
The MyBank onboarding process and local support will be managed by DIAS S.A., which provides clearing services to Greek banks. DIAS will facilitate the integration path for participating credit institutions, which will pave the way for mass adoption from both buyers and sellers.
The exact launch date will be set jointly by all parties involved; the go-live is expected to take place within the fourth quarter of 2015.