MyBank by UniCredit

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The Bank Payment Obligation constitutes an irrevocable undertaking of a Bank (usually the bank of the importer) in favour of the bank of the exporter to pay at sight or to pay at maturity, subject to the electronic comparison of trade data between the banks via a so-called Transaction Matching Application (TMA) such as for example SWIFT-TSU (see below). For the first time banks are now in a position to offer an enriched payment instrument that meets the demands of their clients in the open account space.