APMs in focus: MyBank

What is MyBank?

MyBank is a real-time online banking payment method in Southern Europe that allows consumers to pay directly from their bank accounts without the need for cards or digital wallets. It provides a seamless and secure payment experience by redirecting customers to their trusted online banking environment to authorise transactions.

Furthermore, MyBank is trusted for its simplicity, high security standards and the convenience of not having to enter card details manually. Thanks to its user-friendly experience, it is widely used in key European markets.

In 2024, the solution processed around EUR 10 billion in B2B transactions, EUR 252 million in B2C payments and EUR 3 billion in payments to public administration. Moreover, it is supported by more than 300 banks and payment service providers across Europe. This broad adoption makes MyBank a reliable choice for businesses, consumers and public sector organisations alike.

How does MyBank work?

MyBank is designed to offer a fast and familiar payment experience through consumers’ own online banking platforms.

Here’s how it works:

1. At checkout, the customer selects MyBank as their preferred payment method.
2. They choose their bank from the list of participating institutions
3. The customer is redirected to their online banking environment, where the payment details are pre-filled and all data entry isn’t required.
4. The transaction is confirmed using the bank’s usual authentication method.
5. The merchant receives an immediate confirmation that the payment has been initiated.
6. Once the funds are settled, the merchant can proceed with order fulfilment.

Where is it available?

MyBank supports consumers in Italy, Spain, Portugal and Belgium.

Its strongest presence is in Italy, where it’s deeply embedded in the local banking landscape and supported by most major banks. For merchants looking to reach Italian customers, it is a must-have for merchants targeting the region.

Why offer MyBank?

Since its launch in 2013, MyBank has facilitated pay by bank transactions worth over EUR 60 billion. As of December 2024, Statista reported that MyBank is among the most recognised payment brands in Italy, with 3% of respondents naming it as the country’s leading payment method.

For merchants, MyBank opens the door to a familiar, trusted way to pay. Millions of consumers across Southern Europe already use it, making it a valuable addition to any checkout. Here’s what makes MyBank stand out:

Available across Europe, on any device

MyBank is based on the SEPA (Single Euro Payments Area) framework, meaning it can be used across multiple European countries with no changes to the core payment experience. It’s fully compatible with all major devices, allowing consumers to complete transactions securely from their desktop, smartphone or tablet, whether they’re shopping at home or on the move.

Simple and streamlined

The payment process is designed to minimise friction. When a shopper chooses MyBank at checkout, they are redirected to their online banking environment with the payment form already completed. This removes the need to manually enter long account numbers or additional personal information, making the experience quicker and more accurate.

Flexible transaction limits

MyBank doesn’t enforce a fixed cap on how much a customer can pay. Instead, the transaction limit depends on the individual’s bank limitations and the available balance in their account. This gives merchants the flexibility to accept a wide range of payment amounts, from everyday purchases to high-value orders.

This is particularly beneficial for industries where larger basket sizes are common, such as travel, luxury retail or B2B services. While MyBank itself does not impose a ceiling, it’s important to note that the customer’s bank may apply its own limits depending on the account type or internal policies.

High levels of trust and security

Finally, security is at the heart of MyBank’s design. It operates within the customer’s own online banking environment and uses strong customer authentication (SCA) methods required by PSD2. This makes it highly resistant to fraud, with a chargeback rate close to zero. For merchants, this significantly reduces the risks and operational costs associated with unauthorised payments.

Expand your reach in Southern Europe with MyBank

Offering local payment methods like MyBank goes beyond simply adding another integration. It reflects a genuine commitment to your customers’ preferences, building trust by providing familiar, secure and convenient payment options.

As your global payment partner, emerchantpay is dedicated to helping merchants connect with consumers across Italy, Spain, Portugal and Belgium. Whether you are entering these markets for the first time or looking to strengthen your existing presence, MyBank is a valuable addition to your payment portfolio.

We know that delivering seamless, transparent and trusted payment experiences is essential to long-term customer loyalty. Enabling MyBank in your checkout is a straightforward way to meet local expectations and open new opportunities for growth.