MyBank Mandates. Digital Payments and Identity from the account EPCA Public. EBA Clearing. All rights reserved.

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1 MyBank Mandates Digital Payments and Identity from the account EPCA 2014 Public 1

2 Digital Payments and Identity from your Bank 2

3 MyBank for Credit Transfer MyBank Mandates: What is it MyBank Mandates: How it works MyBank Mandates: The pilot MyBank New services 3

4 MyBank roll out March 2013 LIVE Q FORECAST 3 Countries 4 Countries KICK OFF 141 Banks and Financial Institutions 141 Buyer Banks 136 Seller Banks Already 12 million buyers reachable >300 Banks and Financial Institutions 15 million buyers reachable 4

5 Millions of Enel s Italian customers can now conveniently pay their gas and electricity bills via online and mobile banking thanks to MyBank «MyBank will provide us with real-time information, speed up our reconciliation processes and reduce fraud» «In addition to being a payment instrument, MyBank is also an extremely valuable tool in terms of Customer Satisfaction and anti Churn.» Giovanni Vattani, Head of Payment Systems at Enel Market Division Italy. 5

6 2 MyBank is the ideal way to pay online for holidays. MyBank allows our customer to buy from their home easily and safely via credit transfer, knowing that they will still have the full spending capacity on their credit card for their holiday, We expect a great future for MyBank and look forward to more major banks joining across Europe, which will allow us to sell our products to travellers from outside Italy. Enrico Rao, Responsible for Treasury and Finance Alpitour Group. 6

7 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. Angela Cossellu, Managing Director of Zuritel SpA 7

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9 Self-Certified Service Providers 9

10 What is MyBank Mandate 10

11 SEPA Direct Debit In 2014 the Single Euro Payment Area (SEPA) becomes mandatory. SEPA means that half a billion people across Europe have access to the same Direct Debits so a German can sign a direct debit for a utility company in Spain or an online language course in Belgium. While SEPA Direct Debit works well, for many companies, small businesses and public authorities (Creditors) it involves new procedures, most importantly handling paper Mandates, where a mandate is an expression of consent by the person paying (the Debtor) to be debited. Without a proof of consent to be debited, Debtors can claim their money back over a year after being debited. 11

12 Manual handling of paper is expensive! Get Mandate Contact Customer Enter data ERROR Collection 12

13 MyBank Mandate Features MyBank Mandate will support Online Creation, Modification Cancellation of Mandates initiated on the Creditor website MyBank Mandate will support One-off collections (as agreed between the Debtor and Creditor) Recurrent collections (as agreed between the Debtor and Creditor) D-1 collections Mandates where the customer agrees to waive their no-questions asked refund right. B2B Mandates (2015) 13

14 Uses for Recurrent Collections To digitally authorise recurrent collections corresponding to Payments of monthly invoices to utility providers (e.g. electricity, gas) Payment of taxes to public institutions (e.g. income tax) Regular payments for monthly invoices for goods consumed during the month (e.g. video rental) Regular top-up of accounts (e.g. telephone charge cards) E-commerce context Payment in instalments for larger purchases ordered online, (e.g. a television) 14

15 Uses for One-off collections To digitally authorise one-off payments for e-commerce purchases Where the Payment does not happen at the moment of ordering: Payment on shipment Payment on delivery Where the amount of the Payment is not precisely known in advance Online Hotel room booking 15

16 Uses for Business Direct Debits Much commerce is done by small businesses ordering paper, office equipment and IT equipment. MyBank Mandates will allow these businesses to digitally authorise B2B SDD collections for payments between Sellers and SME s. 16

17 Uses for Mandates where the consumer waives the no questions asked refund There are countries where traditional debits continue to exist as niche products that manage refunds differently. There is a demand from Creditors, especially in some industries, to be able to make a Debit collection with increased certainty. Some example cases are: Government tax collections, School fees, Charity payments. Insurance payments, Mortgage payments and Pension / investment payments. E-commerce transactions, particularly where the goods and services (which may be digital) are delivered immediately. E.g E-Books. There are clear consumer protection features built into this model. 17

18 How does MyBank Mandate work 18

19 Seller Website Authorising your e-mandate for future payments You will be redirected to your online banking to authorise a SEPA CORE Direct Debit Mandate. By signing this mandate, you will a) authorise WonderMagazine to send instructions to debit your account and b) authorise your bank to debit your account in accordance with the instructions from WonderMagazine As part of your rights, you are entitled to a refund from your bank under the terms and agreements with your bank. A refund must be claimed within 8 weeks from the date on which your account was debited. Prefilled data elements Direct Debit Mandate Mandate Unique Reference: Creditor: Creditor ID: Your Name: Direct Debit Type M WonderMagazine - 45, rue des Champs Paris FR12CRE Bill Black Recurrent Additional fields the Creditor may include Amount per payment: 107,40 Payment frequency: 2 per Year Selecting your bank Please select your bank from the list. You will be redirected to your online banking to complete the transaction MyBank e-mandate Banque de Paris Banca di Roma Bank van Brussel Bank selector: could be prefilled via saved preferences? More information on MyBank Continue 19

20 On Debtor Online Banking Online banking site 20

21 A safe and trusted model Based on a protocol using internet standards and web services. No single platform. No specific network. No central processing. No central storage of data. Authorising Side Initiating Side Buyer / Authorising Party Seller / Initiating Party Browser Website System Browser Info trx trx Online Banking Validation Service Routing Service Seller e-channel Buyer Bank Seller Bank 21

22 Comparison with other models Source : Fraunhofer IAO, E Mandates for SDD, 2013 Conclusion: Mandate models that involve the Debtor Bank give the most security. 22

23 Benefits to Creditors and consumers Creditors can collect and store MyBank mandates at a fraction of the price of paper mandates. Creditors can be sure that the account is open for SEPA Direct Debits. Creditors can offer their services across Europe and be paid with the same security, ease and cost as today. Consumers can protect themselves by ensuring that only Creditors they trust can debit their bank account. 23

24 The Pilot and Planning 24

25 MyBank Mandates Pilot Service Providers 25

26 Pilot Aims The aim of the Pilot is to demonstrate that MyBank meets the market needs. Participants have verified that: MyBank Mandate flows are correctly specified at the business level. The web pages and screens are user-friendly and in line with business requirements. The legal and business requirements of the solution are adapted to the needs of the participants

27 Pilot Activity Design Requirements Specifications Test Connectivity testing Application level testing Business level testing Build Participants build interfaces Provision of test Environment Implement Feedback and Learning Go Live 27

28 Sample Screens 28

29 Planning Today Service Providers 28/10-11/12 Phase 1 12/12-20/01 Phase 2- Round 1 21/01-03/02 Phase 2- Round 2 03/02-21/02 Phase 3 16/12-31/01 Phase 1 03/02-03/03 Phase 2- Round 1 04/03-07/04 Phase 2- Round 2-18/04 Phase 3 Banks 29

30 MyBank Mandates will go live: 27th October

31 MyBank is not just online payments! 31

32 An infrastructure to access to digital services to everyone in Europe European Banks and Financial Institutions gathered into a single infrastructure with an integrated set of standards and rules A market driven solution providing controlled access to account services: European reach Cost effective: reuses existing infrastructure Safe : logon credentials remains with the bank Trustworthy : Client is in contact only with his bank Rich digital services through a single ecosystem: E-payments MyBank Mandates M-payments E-invoicing E-ID Adapted to all economic players : individuals, SMEs, Corporates and public administrations 32

33 MyBank is for Mobile In December we made two important additions to MyBank to further support the ability to use MyBank through a mobile phone. Support for the Seller s mobile apps Support for Bank s mobile apps 33

34 MyBank P2P Payments Pay someone else for by addressing his mobile number e.g. friend, relative, cab driver, plumber Directly from your Mobile Banking App or Online Banking Website. The simplicity and safety of SCT

35 MyBank is for Identity services Information: Balance Inquiry Pre-filled address fields Authentication Is he over 18? (for purchasing alcohol, online gambling) Does she live in Italy? (for car insurance) Confirmation Proof of ID Digital signature For subscribing to a new financial product. 35

36 Its for everybody

37 Thank you For your attention <NAME> < > 37