RECURRING PAYMENTS WITHIN THE SINGLE EURO PAYMENTS AREA (SEPA)

For many subscription based services consumers have to pay the related fees on a regular basis. Such regular payments are mostly executed as SEPA Direct Debits (SDD). Therefore equensWorldline 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). 

 

Value for customers

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  • MERCHANT / SERVICE PROVIDER (DEBTOR)

    • Lower payment costs compared to cards
    • Fully compliant and trustworthy payment mean
    • Full control of the payment process (in combination with billing)
    • Reduced payment failures
    • Higher customer satisfaction and loyalty
    • Payment guarantee for high value transactions
    • Secure payment transaction via fraud checks
    • Convenient user experience – only one time setup
    • Environmental friendly (no paper)

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  • CONSUMER (CREDITOR)

    • No missed or late payment
    • Convenient payment method - no further interaction after payment setup
    • Clear control of payment means by defining the mandate (creditor, amount, frequency)
    • Full control over the payments due to regular payment pre-notifications
    • Possibility of payment reject in case of unauthorized payment
    • Very secure payment mean (trust)
    • No risk of transferring money to the wrong payee

Use Cases - Benefits for a wide range of customers

The combination of a flexible payment method with a seamless payment process makes this solution suitable to customer needs from numerous sectors, such as: 

Transportation

Public Transport subscription Bike-sharing system Toll badge & parking

Health & Social

Contributions: health insurance, retirement pension Reimbursement of medical expenses Fitness club and sports abonnement

Automotive & Industry

Fuel card and eCar charging card Vehicle subscription Maintenance services

Telecommunications & Medias

Internet and mobile subscription Music and video streaming Newspapers

Public Sector & Education

Public institutions Education: university and school fees, cafeteria

Insurances

Car and house insurance Loans Indemnity and compensation

Utilities

Energy subscriptions: water, electricity, fuel, gas, etc.

Retail

Service to corporates: coffee machine, cleaning, maintenance, etc. Market place: merchants subscriptions to be visible, etc.

FUNCTIONALITIES

  • TRANSACTION MANAGEMENT

    • 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

    MANDATE LIFECYCLE MANAGEMENT

    • Manage the mandate lifecycle (creation, validation via e-signature, change updates, switching account, archiving, etcetera)
    • Access via back-office or web service

    ELECTRONIC SIGNATURE

    • of SDD mandates
    • of mandates & contracts (optional)

    PAYMENT GUARANTEE

    • 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

  • FRAUD PREVENTION (BASIC)

    • Parameterization of own rules and scoring
    • IBAN check and verification

    FRAUD PREVENTION WITH SCA & AIS (ADVANCED)

    • Strong Customer Authorization (SCA)
    • IBAN & account holder check

    REPORTING

    • Detailed statistics on mandates, SDDs, SCTs, R-Transactions
    • Transactions research modules
    • Cash forecast functionality for Treasurers

    ADMINISTRATION

    • Manage complex corporate hierarchy organization
    • Alerting

About 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.
SDD-lifecycle management

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 (step 7 'Score and Secure Payment'). This valuable feature will mitigate your risk of non-payment and reduce your effort of analysing R-Transactions and dunning process.

Our SEPA Payment Suite (SPS) offers the following major differentiators:

SEPA Payment Suite