What is SEPA Direct Debit?
SEPA stands for Single Euro Payments Area. SEPA Direct Debit was introduced by the European Council to streamline the European payments structure. With SEPA, bank transfers can be done from any European checking account to any other European checking account. SEPA Direct Debit makes it possible to collect recurring payments easily. Just set up a mandate and you can collect subscription fees, monthly donations or any variation on this easily.
SEPA Direct Debit makes it easy for creditors to collect funds from a payer’s account. It can be used for everything from regular subscription payments and monthly donations, to one-click payments and paying in instalments. All of this is possible throughout 34 European countries, which makes SEPA Direct Debit incredibly powerful for Europe-wide expansion of subscription services.
How does SEPA Direct Debit work?
Through SEPA Direct Debit it’s easy to collect recurring funds from your customers. For this to be available the customer needs to provide a signed mandate, which allows the merchant or creditor to collect the funds from their bank account. Once the mandate is provided, payments can be collected without the customer having to do anything.
Benefits of SEPA Direct Debit through Mollie
There are many benefits of collecting recurring payments through SEPA Direct Debit through Mollie. Through our clever integration, the customer can sign the mandate through a variety of payment methods. Mandates can be signed through iDEAL, Belfius, credit card, Bancontact, SOFORT Banking and the KBC/CBC Payment Button. Our clever yet simple API makes the integration incredibly robust and built for volume. Our API and Dashboard allow for direct refunds and export all your data in several different formats for your bookkeeper. Our pricing is very competitive, with no hidden fees at all.
Using Mollie to collect recurring payments through SEPA Direct Debit is easy, there’s no lengthy signup process and we have free, open-source packages and plugins available for most coding languages and e-commerce platforms, which allows for easy integration into any project. Our prices are transparent; you only pay a low fee for successful transactions. And your personal dashboard gives you crucial insights into all your transactions and statistics. Mollie is the quickest and easiest way to implement SEPA Direct Debit.