BUSINESS

MyBank to make online shopping easier and more secure

TAGS: Economy

The Hellenic Bank Association and EBA Clearing, a provider of pan-European payment infrastructure, on Thursday announced a simple and secure way for online payments by the direct debiting of bank accounts for e-commerce purchases instead of payments by credit card.

The service, called MyBank, is supported by the country’s main lenders (Alpha, Eurobank, National and Piraeus) and will become available from end-April.

It will allow online traders in Greece to collect virtually all their commercial revenues this way from Internet and mobile banking users.

Choosing the MyBank icon on the traders’ websites will redirect users to Internet and/or mobile banking solutions of their own bank from which they can make their payment confirming an order of credit transfer with all their personal details already filled in.

MyBank users will not have to communicate the details of their purchases or any other confidential information and data to any e-stores or third parties, given that the payment process will be conducted in the secure environment of their own lender’s online banking.

Online traders using the MyBank application for revenue collection will be informed in real time about their customers’ payments.

Online