Technology provider SIA has launched e-Convergence, a technology
infrastructure aimed at allowing communication between online
merchants and the banks of the network MyBank.
SIA is the technology provider of EBA.
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In June 2012, the clearing and settlement
operation of the Euro Banking Association (EBA), EBA Clearing,
announced the beginning of a technical pilot for its e-payment
solution MyBank.
MyBank will be tested with banks from Austria,
France, Greece, Italy and Luxembourg both at a national and at a
cross-border level until October 2012 before its official launch,
which is scheduled for 2013.
MyBank’s centralised directory, which
guarantees participating banks interoperability and accessibility,
is managed by SIA through a partnership with EBA Clearing since
2002.
SIA’a new e-Convergence platform also intends
to spread the use of e-payments services and develop the e-commerce
sector, especially in Italy.
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By GlobalDataAccording to B2C Observatory Netcomm Milan
Polytechnic, the market in Italy at the end of 2012 is forecast to
grow by 18% with an estimated turnover of EUR9.5bn compared to
EUR8bn last year.
The EU Commission aims to double e-commerce
volumes in retail sales in Europe, currently at 3.4%, by 2015.
SIA said alongside the start up of the new
e-Convergence platform, it is already studying the possibility to
expand the new service smart phones and tablets, and in order to
add new functionalities.
Nicola Cordone, director financial
institutions division and deputy managing director SIA said:
“Our proven experience in electronic
payments guarantees maximum security levels in the processing of
transactions, and can certainly contribute to increasing e-commerce
volumes.”
John Broxis, director, EBA Clearing said:
“Infrastructure solutions such as
e-Convergence will make it easier for e-merchants and financial
institutions to join MyBank. The timely launch of SIA’s new
solution will allow pilot participants to fully test its routing
and validation processes as part of our first testing window; this
will help them prepare for the go-live of MyBank in March
2013.”
