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MyBank transaction volume exceed €15 billion

MyBank, the pan-European payment platform that allows users to pay online via immediate bank transfer through their internet banking, closed out a record year reaching more than €15 billion in terms of total transaction value – a big rise from 2015.

A MyBank image of e-commerce

MyBank transaction volume exceed €15bn

The economic value of the transactions grew by 50% in just over six months and, concurrently, daily transactions saw a significant increase, reaching an average of €19 million per day. Increased use of MyBank was seen in all B2B and B2C industries, where the payment solution witnessed a strong continued rise.

In terms of services purchased with the support of MyBank, the travel industry, which is one driving force for the growth of the online market, registered a growth of 30% on an annual basis while utilities soared by 41% and telecommunications by 15%.

In terms of products, the Tech/IT sector rose by 61%, Furniture and Home living by 36%, Fashion by 29% and Food&Grocery by 18%.

“In 2019, MyBank continued its upward path in a highly competitive and evolving landscape, where new consumer needs, new regulations, new technologies and new players are urging the market to thoroughly review financial services and business models,” comments Giorgio Ferrero, CEO of PRETA, the company that owns and manages MyBank.

“MyBank’s 2019 results encourage our modus operandi, where customer security and data protection meet usability to bring value to the users, ensuring a frictionless customer experience and helping merchants to grow.”

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