What is MyBank?
MyBank is an electronic authorization solution that allows you to use the online banking environment for secure online transactions and protect your identity. With MyBank, online banking customers can use their secure banking portal to pay for goods using credit transfers, to manage direct debit of accounts via the Internet, to transfer money through their mobile devices and to authenticate their identity on the Internet.
Mybank can be safe to provide online payments with a high degree of protection. Mybank provides its customers with the opportunity to pay for goods and services with payment methods such as transfer management, for direct debiting of funds from online accounts, transferring money via mobile phones, and personal authentication.
How MyBank works:
- To start, when paying, select MyBank as a payment method and enter the name of your bank. After that, you will be redirected to the online banking portal.
- Next, enter the necessary data to enter the portal.
- Authorize the payment. Payment confirmation will arrive within a few seconds.
- After receiving confirmation, you will be provided with the purchased service.
- My bank payment solution allows merchants to not only provide payments but also receive real-time confirmation from the client’s bank account to the merchant’s bank account with SEPA Credit Transfer.
- MyBank Mandates allows merchants to facilitate and monitor digital mandates using SEPA Direct Debits.
- MyBank Identity Verification solutions give businesses and individuals to prove the identity in an online account. The technology makes it possible to purchase online services securely.
Businesses of all types face the necessity to verify their customers to avoid frauds, as the solution to resolve transaction disputes, to solve some law cases, etc.
The company’s ID verification uses KYC data for payment improvement and only with a customer’s approval.
MyBank is a payment solution that is suitable for businesses of any size. For startups and small companies, the advantage is the ease of implementation and low-cost solutions. For large companies, there are global solutions for providing payment processing in Europe.