MyBank

The e-wallet MyBank enables consumers to pay directly from their online banking through an immediate bank transfer – with the highest security and transparency standards.

MyBank is a flexible solution for both B2B and B2C businesses: over 210 banks and PSPs have joined the MyBank network throughout Europe.

In Italy, this method’s core market, just 44% of consumers have a credit card. This underscores the importance of supporting alternative payment methods.

Other bank-transfer methods operating in Italy include Trustly, TrustPay, Sepa and SafetyPay.

The benefits of supporting bank transfer in Italy

  • Just 44% of Italians have a credit card but 84% have an Internet connection
  • Italians pay for US$4bn of annual online purchases with bank transfers each year.
  • Over the next five years, the Italian e-commerce market will almost double in size.

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Availability Available with PPRO
Type Bank transfer
Company behind LPM RETA S.A.S
Market share details More than 40 m customers enabled across Europe, 250+ banks and PSPs participating and around €14.5 transacted daily using MyBank
Market relevance High
Countries

Why MyBank

1
MyBank allows transactions of any amount as long as the necessary funds are available in consumer bank accounts, with no risk of chargeback.
2
In 2020, MyBank reported an increase in active merchants of 12% and a 46% increase in the number of companies transacting over €1 million in the previous 12 months.
3
Popular payment method in Italy, integrated with over 140 banks and a potential consumer base of 40 million consumers across Europe.

E-commerce and payments insights by country

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Regional payment guides

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