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This makes it a key payment method for e-commerce businesses looking to expand across Europe.
SEPA (Single Euro Payments Area) Direct Debit was introduced by the European Payments Council (EPC) to create a standardized payments infrastructure within the EU. With these common standards businesses benefit from faster settlement and simplified processing for cross-border payments. This improves cost efficiency and international transaction speed, and facilitates easy access to EU markets.
Meanwhile, shoppers benefit from a single set of euro payment instruments throughout SEPA: one bank account, one bankcard, one SEPA Credit Transfer (SCT) and one SEPA Direct Debit.
SDD has already seen strong adoption in Germany, The Netherlands, Spain and Austria and will eventually replace local direct debit in The Netherlands and Germany.
Customers already supporting SDD with Adyen include: airberlin, Dropbox and MINDBODY.
We have created The SEPA Direct Debit Payment Method Guide to provide insight into how SDD works with desktop and mobile payments, complete with illustrated shopper payment flow.
To find out more about SEPA Direct Debit click on the link below.
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