What is SEPA Direct Debit?
SEPA Direct Debit is a standard across Europe to collect funds from your customers by means of previous authorization. This payment method gives you the possibility to collect funds from your customer bank account on a recurring basis.
Recurring payment subscriptions
A recurring payment is often used to renew a membership or a subscription. For example, software, conferences, telephone provider or newspaper subscription. Thanks to SEPA Direct Debit, you will be able to collect the required amount on a recurring basis without waiting for the consumer to manually transfer the payment.
In which countries can I use SEPA Direct Debit?
Since the European SEPA standard is used for direct debit payments, you can receive payments from an European bank account from another European bank account. You can then use automatic or one-off Direct Debit payments to receive payments via MultiSafepay from almost everywhere in Europe.
The payment process with SEPA Direct Debit via MultiSafepay
The consumer selects Direct Debit in the checkout phase in your webshop. After completing the form, your customer gives permission to collect the amount from his account.
The payment will then be debited from the customer’s account within a few days. After the payment is received by MultiSafepay, the transaction status is updated to “completed”. You can then process the consumer’s order. You can of course also decide to receive notification of the successful payment from MultiSafepay.
SEPA Direct Debit integration in your webshop
Integrating the SEPA Direct Debit payment method is easy. With MultiSafepay you can directly link the payment method to your webshop. In order to offer you the best solutions, you can use our free ecommerce plugins to seamlessly connect your webshop to our payment platform.
Mandate and recurring payments via iDEAL and Bancontact
In order to accept a (one-off) Direct Debit payment, you will need a mandate. This is done through a mandate form. MultiSafepay offers the option for a digital collection form where iDEAL or Bancontact can be used as first transaction.
Risk and mandates with SEPA Direct Debit
Our partner Twikey offers different solutions for B2C or B2B mandates and the management of mandates. In this way you can reduce the chance of cancellation of unwanted payment collections. With a mandate, consumers can only reverse the amount for 56 days, and it is always necessary that the consumer has sufficient balance in the bank account. In most business mandate B2B cases, customers can no longer reverse the amount.
Benefits of SEPA Direct Debit
- Collection of funds for bank accounts with European IBAN (3.500 banks)
- Complete, manage and collect all digital Direct Debit authorizations
- All Direct Debit payments are collected in your MultiSafepay Control
- Used for both one-time and recurring payments
- iDEAL and Bancontact can be used for the first transaction and mandates
- Well-known and easy-to-use payment method for consumers
- Manage e-mandates and sign them via the service provider Twikey
Free e-commerce plug-ins from MultiSafepay
This payment method is offered in our free e-commerce plug-ins including Magento 1, Magento 2, Woo-Commerce, Opencart, Prestashop, VirtueMart, Hikashop, Drupal, OsCommerce, CS-Cart, XCart, ZenCart, Lightspeed, Shopify, Shopware, CCV shop, Cubecart, Django, Ecwid, LogiVert, Mywebstore, ORO commerce, OsCommerce, SANA commerce, Ubercart, Wordpress Ecommerce, X-Cart, XT-commerce.
Costs and rate for your webshop
The cost of this payment method consists of a fixed amount per transaction and has no variable costs. The rate depends on the monthly webshop turnover. Curious about the costs for your webshop? Calculate your rate immediately.