What is my role as PSP in MyBank?

Modified on Wed, 29 Mar 2023 at 03:22 PM

PSPs are direct participants within the MyBank solution.

They have two distinct roles and responsibilities:

- Payee PSPs will

a) enable companies to collect payments with MyBank;

b) onboard and stipulate contracts with merchants that intend to add MyBank as payment solution;

c) provide the virtual POS integration to merchants;

d) process MyBank transactions and credit the funds on the bank account held by the merchant.

- Payer PSPs will

a) ensure that MyBank is integrated into their online banking;

b) allow customers to make online payments with MyBank.

PSPs can join with one or both roles.

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