What is SEPA Direct Debit?
Find out all you need to know about SEPA Direct Debit! What is it? Who uses it? And what are the benefits of this payment method?
What is SEPA Direct Debit?
SEPA stands for Single Euro Payments Area and is a payment method that was introduced by the European Payment Council back in 2008. The intention behind creating this payment method was to provide a cheap and easy way for Europeans to make cross-border electronic payments.
In 2009 SEPA Direct Debit was introduced and implemented throughout Europe. SEPA Direct Debit allows companies to process one-time or recurring payments for customers within the EU.
Benefits of SEPA Direct Debit
There is a variety of benefits that come from accepting the popular European payment method. Some of the benefits of SEPA Direct Debit include:
- Payout within two days
- Simplified payment processing cross-borders
- Reduced processing costs
- The flexible way to pay
- Easy access to European markets
How to accept SEPA Direct debit payment method?
Today, SEPA Direct Debit has millions of users and it is an essential payment method accepted by companies that want to expand within the EU. Thankfully, accepting SEPA Direct Debit is easy!
PayRequest offers an all-in-one payment platform that allows your customers to choose from over 20 different payment methods, including SEPA Direct Debit.
Once you have signed up to PayRequest for free, you will be able to start accepting payments not only from Europe but from around the world.
When customers select SEPA Direct Debit as their payment method, they will be directed to the banking page where they will complete the transaction by inserting their account name and IBAN number. You will then receive a notification of the payment.
For a full list of payment methods that can be accepted with PayRequest, check out this article: Payment Methods List
Which countries use SEPA Direct Debit?
Today, SEPA is recognized in 36 different countries. This also includes some countries that are not part of the European Union.
Find below a list of countries that recognize SEPA:
- Czech Republic
- San Marino
- United Kingdom
- French Guiana
- San Pierre and Miquelon
For a full list of payment methods by country, have a look at this article: Payment Methods by Country
What is PayRequest?
PayRequest is an all-in-one payment platform offering you the most efficient solution to accepting the majority of payment methods are currencies from the account the world, with real-time transactions and conversions.
Whatever your business, we’ve got the right payment solution for you. With users from around the world choosing us as their trusted payment provider, let us help you too.
As an OpenStartup, we offer complete transparency as a company and work towards providing our customers with exactly what they need to make accepting payment easy and help your company thrive!
Sign up today for free and never miss out on a sale again!
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