Worldline, a provider of payments and transactional services, has selected MyBank, an online banking e-payment (OBeP) solution, to offer SEPA compliant online banking e-payments for cross border e-commerce.
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Worldline said that electronic mandates are the missing link to enable payment via SEPA Direct Debit in an e-commerce context, especially on a cross-border level.
The payment services firm will assist financial institutions and merchants across Europe in connecting to the new eMandate solution effective October 2014.
With e-SEPA, consumers can pay for their orders online through a direct debit or a credit transfer.
With MyBank, Worldline provides Routing Services enabling merchants to redirect customers to their banks and validation services on the customer’s bank’s side to provide authentication.
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By GlobalDataWolf Kunisch, head of financial processing and software licensing at Worldline, said: "Electronic mandates are the missing link for offering payment via SEPA Direct Debit in an e-commerce context.
"MyBank Mandates will fill this gap by providing a pan-European mandate solution that can be conveniently used online. We look forward to rolling out the solution to banks and online businesses across the European Union and to being a pioneer offering this solution."
