If you're selling software globally, it's vital to give the buyers payment options which are easy andconvenient for buyers. This reduces the friction of buying experience and leads to an increase in customer acquisition and revenues.

assists sellers worldwide through various payment options. One of these methods which is among the most popular among those in the European Union -- is SEPA Direct Debit. It does not just help simplify payments across borders in the EU and also, it aids in reducing the possibility of failing transactions.

Alongside the new SEPA Direct Debit functions, sellers have now the capability to accept payment not only within the SEPA region but be able to access chargeback control, as well as offer refunds via the application.

What exactly is SEPA Direct Debit? And What is it that makes it work?

SEPA (Single EURO Payments Area) is an network for transactions, which was established across the EU and some of the adjacent countries. SEPA allows users and companies to make Euro payments cash-free via credit card or direct debit at any point within the SEPA zone.

Anyone who is in the SEPA region can make direct debit transactions in Euros regardless of what foreign currency that their account in. This makes it easier and less expensive when transborder transactions are made.

When you make the SEPA Direct Debit the purchasers pay through an interbank transfer, similar to ACH (Automated Clearing House) in North America. Usually, this clears within between two and five days and allows for easy and unobtrusive payment for both individuals and businesses.

Why Should I Use SEPA Direct Debit?

As SEPA services over 529 million customers companies who are interested in expanding their international reach should not be hesitant to consider providing SEPA payments to potential customers.

To make use of SEPA Direct Debits  the seller, they need to submit an inquiry via the support portal and in two days the transaction will become accessible on their website.

In this case, the method of obtaining funds from customers is similar to the process for any other type of transactions. Customers are able to use SEPA Direct Debit. This will be shown if they live in any of the covered regions listed in our documents. The customer will select the method of payment, enter their information, and then are able to complete their transaction.

Not only is it easy to establish SEPA Direct Debit on the website of the seller. It also offers a variety of advantages for sellers wanting to grow their business into the world market

• Broader reach to more than 500 million potential customers in the EU.
• Better conversion rates by making shopping easier for European customers as more than half of European customers use credit cards..
• Reduction in the failure rate of payment as because of the bank-tobank connection with SEPA Direct Debit.
• Better retention due to the removal of failed payments caused by credit card expiration or cancellation.

This post was first seen on here