SEPA Direct Debit

SEPA (Single European Payments Area) is an EU initiative to harmonise direct debit payments across all relevant eurozone markets: ensuring consumers experience the same security, ease and convenience when making payments across 36 countries.

Introduced in 2009 for direct debit, the payment method requires an IBAN as the unique identifier for the consumer’s bank, branch and account.

All SEPA Banks offering Euro-denominated direct debits are included and as a regulated payment method, prices remain the same for merchants, regardless of country. Consumers make payments by completing a direct debit mandate provided by the merchant including their BIC and IBAN.

With SEPA, consumers experience the same ease and convenience when making payments across Europe as they do when paying within their home country.

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Availability Available with PPRO
Type Bank transfer
Company behind LPM SEPA
Market relevance High

Why SEPA Direct Debit

1
Accepting SEPA direct debit helps merchants achieve high conversion rates, control cash flow by collecting payments when they want, ensures consumers pay on time, and reduces admin complexity with PPRO offering a fully managed service.
2
More than 529 million citizens live in SEPA markets and make 20 billion direct debit bank transfer payments a year.
3
Consumers avoid the risk of missing a payment deadline and incurring charges or not receiving goods/services while merchants can boost subscription revenue with one of the most recognisable payment methods in the euro-zone.

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