SEPA Direct Debits

Receipts module helps you to process your SEPA Acronym standing for Single Euro Payments Area..

Direct debit: A set of procedures enabling a transfer of value by debiting a payer’s user account. A payment transaction is initiated by the payee on the basis of the consent given by the payer to the payee, to the payee’s payment service provider, or to the payer’s own payment service provider. Mandate for direct debits: The authorisation given by a payer to a payee (and/or the institution with which the payer’s account is held) consenting to the debiting of the payer’s account.

Source: European Central Bank.

Since 2014, SEPA (for Single Euro Payments Area) Direct Debits replace all the various domestic direct debit instruments within the Euro area, in Euro only.

SEPA Direct Debits can be one-off or recurrent usually according to a periodicity defined by their mandates.

Regarding Direct Debits, Receipts module enables you to manage the following processes:

• Generation of one-off and recurrent Direct Debits

• Periodicity of recurrent Direct Debits as of the mandate import

• Direct Debit Campaigns and their automations