SEPA Direct Debit is a direct debit standard widely used in Europe, which authorizes automatic debiting client’s bank account with a relevant amount.
SEPA (Single Euro Payments Area) is the area which embraces 35 countries in Europe where non-cash settlement in EUR may be conducted. The aim of the EUR single payment area is to reduce costs of operations and accelerate and facilitate a payment.
SEPA Direct Debit is a direct debit mechanism which is based upon SEPA standard that authorizes that amounts due are easily processed by online shops that operated in the region.
When using the method, the buyer enters the bank account data on the shop website and authorizes that the bank account be debited with a relevant amount. The system forwards automatic charge note to the bank, without any involvement of the buyer along further shopping procedure.
The SEPA Direct Debit mechanism proves to be an excellent payment method for all the shops that operate in EUR, whose clients are spread all over Europe. It proves specifically effective when making cyclical and subscription payments.
Popular in the following countries:
Austria, Germany, The Netherlands, Spain, France, Italy.