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.