If you're selling software globally It is essential to offer your customers payment options that are familiar andconvenient for the buyers. This will reduce friction during the buying process, which leads to an increase in customer acquisition and revenue.

assists sellers worldwide with a wide range of payment options. One of these payment methods which is one of the most widely used in the European Union -- is SEPA Direct Debit. It not only assists to simplify payments across borders in the EU as well, but it aids in reducing the chance of payment transactions that fail.

In addition to the newly introduced SEPA Direct Debit capabilities, sellers are now able to not only collect payments within the SEPA region, but can also access chargeback management and can offer refunds via the app.

What Is SEPA Direct Debit and how does it Do It?

SEPA (Single European payments Area) can be described as a network of transactions implemented in the EU and a few surrounding countries that allows business and consumers to cash-free euro payment via credit transfer and/or direct debits to any location within the SEPA region.

Anybody in the SEPA area can perform direct debit payments in Euros -- no matter which currency the local bank account is held in. This makes it easier and reduces the costs related to trans-border transactions.

With the SEPA Direct Debit payment, purchasers are sending money in a bank-to-bank transaction -which is similar to ACH (Automated Clearing House) in North America. The typical time for clearing is 2-5 working days. It allows easy, unobtrusive payments for both businesses and individuals.

Why Should I Use SEPA Direct Debit?

Because SEPA serves over 529 million citizens, any business seeking to increase their global presence is remiss to ignore offering SEPA transactions to potential customers.

For SEPA Direct Debit with , sellers just need to type an inquiry on the support portal after which, within two working days, the transaction will be available on their website.

The process of collecting payment from the customer is just as other transactions. Customers will be able to use SEPA Direct Debit will be displayed if they are located in one of the areas as described in our documents. They select the payment method and then enter their details, and then are able to make their transaction.

It is not only simple to set up SEPA Direct Debit from the seller portal It also offers a variety of advantages for sellers wanting to expand their business into international markets:

• Broader reach to more than 550 million potential customers in the EU.
• Conversion rate increased by making shopping easier for European clients, as only a quarter of European customers have credit cards.
• The reduction in failures to pay is because of the bank-tobank connection to SEPA Direct Debit.
• Improved retention through the elimination of payment failures due to credit card expiry or cancellation.