SEPA Direct Debit
An EU initiative, SEPA (Single European Payments Area), harmonises direct debit payments across all relevant eurozone markets. This guarantees consumers the same level of security, convenience and ease when making payments across 36 countries. All SEPA Banks that offer Euro-denominated direct debits are covered, and because it is a regulated payment method, prices remain constant for merchants, no matter where they are located. Consumers make payments by completing a direct debit mandate provided by the merchant, including their BIC and IBAN ( the unique identifier for the consumer’s bank, branch and account).
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Get in touchWhy SEPA Direct Debit
By accepting SEPA direct debit, merchants can achieve high conversion rates, control cash flow by collecting payments when they want, ensure consumers pay on time, and reduce admin complexity with PPRO’s fully managed service.
More than 529 million citizens live in SEPA markets and make 20 billion direct debit bank transfer payments a year.
Merchants are able to boost subscription revenue using one of the most recognized payment methods in the eurozone, and consumers don’t have to worry about missing a payment deadline and incurring charges or not receiving goods/services.
Specifications
Coverage
Currencies
Features
How it works
At online checkout, the consumer chooses SEPA as the preferred payment method
The consumer enters an IBAN/BIC and authorises a direct debit mandate
The consumer receives a noti cation of funds withdrawal
Payment is con firmed