European merchants lose revenue to chargebacks, card network fees, and third-party data exposure every day — not because better infrastructure doesn’t exist, but because adoption lags behind availability. MyBank payment eliminates all three variables in a single transaction flow, connecting buyers directly to their online banking portal without card networks or shared credentials. TODA Pay integrates this method as a primary alternative to card-based checkout, delivering irrevocable confirmation at the moment of authorization for SME, enterprise, and high-risk merchants operating across Europe.
Launched by EBA Clearing in 2013, MyBank operates on SEPA infrastructure and currently reaches over 40 million potential consumers through a network of 250+ participating banks and PSPs across the European Union.
What MyBank Payment Method Actually Does
The MyBank payment method functions as an e-authorization layer between the merchant’s checkout and the buyer’s existing online banking account. No new registration, no stored card data, no shared credentials — the buyer authenticates within their own bank’s secure portal.
The transaction flow completes in three steps:
- The buyer selects MyBank at checkout and chooses their bank from the network.
- An automatic redirect sends them to their online banking portal with a pre-filled transfer form.
- The buyer reviews the details, authorizes with existing credentials, and the merchant receives real-time confirmation.
This redirect model keeps sensitive financial data entirely within the buyer’s banking environment. Merchants never access IBAN numbers, passwords, or payment credentials at any point in the process.
Why MyBank Italy Leads European Bank Transfers
Italy represents the core market for MyBank, with Italian consumers directing 11% of all online payments through bank transfer. That behavioral preference translates directly into merchant opportunity: businesses that offer MyBank payment at checkout capture a segment that actively avoids card-based methods.
The growth trajectory reinforces the case for adoption. In 2022, MyBank processed transactions totaling €10 billion — a 38% year-over-year increase. That volume reflects structural demand, not seasonal variance.
How MyBank Reaches Markets Beyond Italy
MyBank has expanded active operations into Portugal, Spain, and Belgium, with all participating banks connected through the SEPA framework. Any merchant targeting eurozone buyers — whether in B2B or B2C verticals — gains access to a consumer base that spans borders without requiring separate regional integrations.
The SEPA foundation means the same technical infrastructure that processes a domestic Italian payment handles cross-border transactions within the eurozone. One integration, multiple markets.
Zero Chargebacks and Real-Time SEPA Confirmation
The structural difference between MyBank payment and card-based methods comes down to irrevocability. Once a buyer authorizes a SEPA Credit Transfer through MyBank, the payment cannot be reversed by the payer. No dispute window, no chargeback process, no revenue recovery overhead.
For high-risk merchants and importers, this distinction carries direct financial impact. The table below compares MyBank against traditional card payments across the metrics that affect merchant operations:
| Parameter | MyBank Payment | Card Payment |
| Chargeback risk | Zero — irrevocable by design | Standard dispute window applies |
| Data exposure | None — buyer authenticates in own bank | Card details processed by gateway |
| Payment confirmation | Real-time, at authorization | Delayed or batch settlement |
Security operates at the bank level. Double authentication through the buyer’s existing online banking credentials eliminates the primary attack surface that affects card transactions. No new passwords, no stored payment profiles, no third-party data processing.
How Merchants Connect MyBank to Their Checkout
Integration with MyBank payment runs through a certified PSP or payment gateway that holds routing and validation credentials within the MyBank network. Merchants do not connect directly to individual banks — the PSP handles network routing, pre-filled form generation, and settlement notification.
Key technical parameters merchants should confirm before integration:
- Redirect flow support — the checkout must handle external redirect and return URL logic
- Sandbox environment — test transactions process through a dedicated MyBank testing environment before going live
- Settlement notifications — automatic alerts confirm when funds transfer to the merchant account
- Automatic reconciliation — 100% of MyBank transactions reconcile against bank records without manual intervention
Settlement timing follows the participating bank’s internal schedule. Merchants receive an automated notification upon fund transfer completion, removing the need to manually verify transaction status against bank statements.
Accept MyBank Payments Through a Certified PSP
Connecting MyBank payment method to an existing checkout requires a PSP with active MyBank network certification — not all payment gateways hold the routing and validation credentials required for live processing.
TODA Pay operates as a certified payment service provider with direct access to the MyBank network, supporting merchants across SME, enterprise, and high-risk verticals. The integration covers redirect flow configuration, sandbox testing, settlement monitoring, and automatic reconciliation — without requiring merchants to manage bank-level technical relationships independently.
European importers and cross-border platforms gain the additional benefit of a single integration point that covers MyBank alongside other SEPA-based payment instruments. Connect with TODA Pay to activate MyBank payment for your checkout and eliminate chargeback exposure from day one.
Frequently Asked Questions
What is MyBank and how does it process payments?
MyBank is an e-authorization solution that connects buyers directly to their online banking portal for instant SEPA transfers. The merchant receives real-time payment confirmation without handling any sensitive customer data.
Is MyBank available outside of Italy?
MyBank operates across multiple European markets, including Portugal, Spain, and Belgium, through a network of 250+ participating banks and PSPs. Its SEPA infrastructure makes it valid for any cross-border transaction within the eurozone.
Does MyBank support high-risk merchant accounts?
MyBank’s irrevocable transfer model eliminates chargeback exposure, making it a structurally sound option for high-risk verticals. Merchants in regulated or complex industries benefit from guaranteed payment confirmation at the moment of authorization.
Are there chargebacks with MyBank bank transfers?
MyBank payments are irrevocable by design — once the buyer authorizes the transfer, the funds cannot be reversed by the payer. This removes the primary fraud vector that affects card-based payment methods.
How long does MyBank payment settlement take?
Authorization and confirmation occur in real time, giving merchants immediate visibility over completed transactions. Settlement timing follows the participating bank’s schedule, with automatic notifications sent upon fund transfer completion.
