Oh man, I have such great news for you today. I’m so so proud to announce that right now (yeah, even now) we are able to help you with improving your sales in Europe.
Have you ever heard about direct debits? Sure, you have. Direct debits are great. Always have been. You have a bank account, you pay directly from your bank account. Don’t need to provide anyone with your credit card details, don’t need to log in to some 3rd party payment system. Bank account means payment. So simple, so great.
Sure, so why the hell do you need SEPA Direct Debits if traditional direct debits are so great? Because of one simple reason… old direct debits were local payment methods. What does it mean exactly? Well… you wanted to accept payments in Germany? You needed to have a bank account in Germany, integrate with some PSP that offers this payment method and that was it. You could accept payments from German customers. Wanted to accept payments in the Netherlands? Needed the same. Bank account in the Netherlands, PSP that had this payment method in their portfolio. Spain? The same. France? The same. Italy? Still the same.
Sure, Europe is a great market for all the web businesses. But there’s a lot of countries out there (47 to be exact). Wanted to accept direct debit payments in the whole Europe? You needed to have direct debits from each of these countries. Hurts like hell.
Now it has changed. SEPA (Single Euro Payments Area) Direct Debits give you one standard for all the direct debits from the SEPA countries. For all the transactions in Euro. And what’s even better… you can collect payments from around the SEPA area in Euro on a single bank account. You don’t need to have separate bank accounts for particular countries. You don’t need to have a dozen bank accounts and pay everywhere for almost nothing. Now you need to have one bank account in one of the Euro-zone countries and that’s all. You can accept payments from your Spanish, Italian, German, French, Dutch (…) customers.
As simple as that.