Recurring Payments within the Single Euro Payments Area (SEPA)
Recurring payments, also known as subscription payments, are a type of payment arrangement where a customer authorizes a merchant or service provider to automatically charge their account at regular intervals. This arrangement is commonly used for ongoing services such as subscription-based products (e.g., monthly deliveries of a beauty box), online memberships (e.g., monthly access to a streaming service), and utility bills (e.g., monthly electricity bills).
Such regular payments are mostly executed as SEPA Direct Debits (SDD). Worldline offers a convenient and secure payment solution that enables corporates and banks to manage SEPA mandates throughout its entire lifecycle (creation, validation via e-signature, archiving, etc.), process SEPA Direct Debits (one-time or recurring) and SEPA Credit Transfers (ongoing or scheduled).
Our SEPA Payment Suite (SPS) differentiators:
Benefits for a wide range of customers
SEPA Direct Debit
In order to use SEPA Direct Debit (SDD) as a payment method the consumer has to sign a mandate that authorizes the creditor to debit money from the consumer’s account. This mandate contains information about the payer e.g. name, IBAN and signature date. 14 days before each debit transaction, the creditor has to inform the consumer (debtor) about the payment due date and the amount. The SDD enables the bank of the creditor (e.g. merchant, corporate or reseller) to collect money from the consumer´s (B2B/B2C) account on a regular basis.
Our SEPA solution provides an entire mandate lifecycle management as well as the processing of SEPA Direct Debit and SEPA Credit Transfers. You can be sure to get paid even if the SEPA Direct Debit is refused by the consumer bank, thanks to our Payment Guarantee option. This valuable feature will mitigate your risk of non-payment and reduce your effort of analysing R-Transactions and dunning process.
- Access via back-office, web service, or file-transfer
- Conversion of domestic file formats to SEPA
- Management of SEPA files: PACS, SDD B2B/B2C, SCT, SCT Inst, R-Transaction
- Split, enrichment features
- Manual validation / threshold parameters
- Archiving of transactions during whole mandate activation
- Integration & event reporting
- Manage the mandate lifecycle (creation, validation via e-signature, change updates, switching account, archiving, etcetera)
- Access via back-office or web service
- of SDD mandates
- of mandates & contracts (optional)
- Get paid even if the SEPA Direct Debit is refused by the consumer bank
- Mitigate your risk of non-payment
- Reduce your effort of analysing R-Transactions and dunning process
- Parameterization of own rules and scoring
- IBAN check and verification
- Strong Customer Authorization (SCA)
- IBAN & account holder check
- Detailed statistics on mandates, SDDs, SCTs, R-Transactions
- Transactions research modules
- Cash forecast functionality for Treasurers
- Manage complex corporate hierarchy organization
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