Online insurer Zurich Connect takes MyBank payment method

MyBank will allow to all the holders of a current account opened within many banks now enabled to acquirer via online their insurance premiums on Zurich Connect site with just a couple of clicks. By offering MyBank on its website, the online insurer provides its customers in Italy with a convenient and secure payment method based on the online banking environment they know and trust.

The cooperation between Banca Sella, that offers MyBank payment option throughout GestPay Payment Gateway, and the Italian online company Zuritel, owner of Zurich Connect brand, (http://www.zurich-connect.it/), has made possible for the largest insurance company in Italy to offer payments via MyBank.

“MyBank enables online customers to rely on their familiar e- or m-banking environment when buying online. Its high security levels make it an appealing payment option for companies with online business,” said John Broxis, Managing Director at MyBank. “In co-operation with payment service providers across Europe, we are working on rolling out MyBank to a growing number of businesses and public administrations in the course of 2014.”

“Offering MyBank option to our customers“ said Alessandro Bocca, Head of Online Payment at Banca Sella “represents a further step in the pursuit of Banca Sella Group’s strategy, whose main purpose is to support its own customers, providing them with all the payment options that buyers consider optimal“

Angela Cossellu, Managing Director of Zuritel SpA said: “Our Company is the first direct company to use MyBank as a payment method. With this new agreement we have made a huge step forward in accomplishing the needs of our customers, which now have an extra payment method to subscribe to our insurance policies.”

The MyBank solution for initiating SEPA Credit Transfers went live in March 2013. The majority of participant banks are located in Italy with other MyBank participants being located in France and Luxembourg. The MyBank mandate pilot for SEPA Direct Debits is expected to be available later in 2014.

Daniela Vinci, Tel: +39 027 201 99 96 (d.vinci@ebaclearing.eu)

Annick Moes, Tel: +49 151 1631 1526 (a.moes@ebaclearing.eu)

MyBank (www.mybankpayments.eu) is an e-authorisation solution that enables customers to pay for their online purchases via their regular online or mobile banking environment. The solution was launched in March 2013 and is open to all authorised payment service providers (PSPs) in the Single Euro Payments Area (SEPA), including, without limitation, credit institutions and payment institutions. The MyBank Directory, which lists all participating financial institutions, is hosted by SIA, a major financial services technology infrastructure provider based in Milan.

MyBank is geared at supporting the initiation of SEPA payments via the Internet and may at a later stage also be used for transactions in other currencies or for e-identity services. At this stage, MyBank supports the initiation of SEPA Credit Transfers. It is planned to enable customers to create, modify and cancel electronic mandates for SEPA Direct Debits from July 2014 on.

MyBank has been developed by EBA CLEARING (www.ebaclearing.eu), which also manages the solution. EBA CLEARING is a provider of pan-European payment infrastructure solutions and is owned by 62 of the major banks operating in Europe.