The first MyBank test transaction was successfully sent between the French BRED Banque Populaire and Istituto Centrale delle Banche Popolari Italiane (ICBPI). The demonstration took place at the EBAday payments conference in Edinburgh.

The company has also revealed plans to start the technical pilot phase of the MyBank project on 4 June 2012. The MyBank product is an electronic payment service aimed at enabling consumers to purchase goods and services online at a pan-European level, via their regular online banking environment or payment application.

The service will be tested at both national and cross-border level by banks and other payment service providers, merchants, customers, integrators and routing service providers. MyBank will first support the initiation of SEPA Credit Transfers and the creation of SEPA Direct Debit e-mandates, payment initiation via other devices such as smart phones and tablets and transactions in other currencies, will follow at a later stage.

Banking communities across Europe and individual institutions are already making preparations to introduce e-payment services which will rely on the MyBank functionality. In Austria, Stuzza, the co-operation platform of the Austrian banks and financial institutions, is building a MyBank interface to allow the connection with the Austrian banks. In Italy, banks and e-merchants have also embraced the initiative.

The Luxembourg banking community is working on the implementation of a MyBank-based service which will be able to allow citizens make payments to the local government. In other European countries, such as France or Greece, individual players have already confirmed their participation in the pilot.

EBA Clearing has started its MyBank initiative in 2011, to deliver an Online Banking e-Payment (OBeP) service aimed at allowing the purchase and sale of goods and services over the internet at a pan-European level.