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Payabl. Introduces SEPA Direct Debit Across Acquiring and Business Account Products
London-based fintech firm, payabl., has expanded its offerings with the launch of SEPA Direct Debit functionality across its acquiring and business account products. This move aims to cater to businesses with various payment challenges, providing a tailored solution for each use case.
Breno Oliveira, Head of Product at payabl., emphasized that each product has been purpose-built to match the workflows, pricing, and operational needs of its respective use case without compromise.
The SEPA Direct Debit functionality includes several key features. Businesses can now automatically collect recurring payments from customers via payabl.'s payment gateway. This feature is particularly suitable for subscription-based services and other recurring billing needs.
One of the primary benefits of SEPA Direct Debit is the ability to make euro-denominated direct debit payments across all SEPA countries. This standardized scheme improves cross-border payment efficiency, providing businesses with a more streamlined approach to international transactions.
Another advantage is the automated recurring payments feature, which facilitates predictable cash flow by enabling the automatic collection of payments, ideal for subscriptions or regular invoices.
In addition, SEPA Direct Debit offers improved cash flow management by enabling timely and reliable payment collection, allowing businesses to better forecast and manage liquidity.
Compared to card payments, SEPA Direct Debit typically involves lower fees, reducing payment processing costs for businesses. Furthermore, payments are authorized by the payer via a mandate, providing security and compliance with regulatory requirements.
The SEPA Direct Debit functionality also offers real-time notifications, mandate control, and approval workflows, providing businesses with enhanced visibility and oversight across transactions in the 36 SEPA member countries.
Business account users can automate outbound payments using SEPA Direct Debit through the payabl.one portal. This enables businesses to manage supplier, utility, or government charges more efficiently.
While specific details about payabl.'s SEPA Direct Debit implementation, such as limits, mandate management, fraud prevention, or API integration, are not directly described in the provided information, these details can be verified directly from payabl.'s official documentation or customer support.
The feature image credit for this article is from Switzerland, edited by the platform's team, using an image by user16766420 via Freepik.
[1] Source: SEPA Direct Debit [2] Source: International Payment Gateway [3] Source: SEPA Direct Debit Benefits [4] Source: SEPA Direct Debit Schemes
- The integration of SEPA Direct Debit within payabl.'s fintech solutions extends to their business account products and acquiring services, catering to various businesses with unique payment challenges.
- With SEPA Direct Debit, businesses can automate recurring payments, benefiting from improved cash flow management and predictable revenue streams, especially for subscription-based services or regular invoices.
- Apart from the benefits for businesses, SEPA Direct Debit offers lower processing fees compared to card payments, while ensuring compliance with regulatory requirements and providing real-time notifications, mandate control, and approval workflows for enhanced transaction visibility.
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