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In a significant move to cater to the diverse payment challenges faced by businesses, London-based fintech firm payabl. has launched SEPA Direct Debit functionality across its acquiring and business account products.
This innovative feature will enable merchants using payabl.'s acquiring solution to offer SEPA Direct Debit as a payment method for recurring euro payments, ideal for subscription services, media platforms, and other recurring billing models. For businesses using payabl.'s business accounts, SEPA Direct Debit will automate outgoing euro payments such as supplier, utility, or government payments, thereby improving payment efficiency.
The key benefits of the SEPA Direct Debit functionality for payabl.'s acquiring and business account products are manifold. For acquiring customers, it includes the ability to create secure mandates, hosted checkouts, and automated pre-notifications to reduce failed transactions and minimize revenue loss from card churn. This functionality also supports seamless and automated collection of payments, improving steady and predictable cash flow for businesses.
Business account users can also benefit from real-time alerts, mandate management, and approval workflows via the payabl.one portal, giving them greater control, transparency, and compliance in payment processes across 36 SEPA countries.
The SEPA Direct Debit functionality is designed to help reduce payment failures and card-related churn. By simplifying payment processes, it improves cash flow predictability and working capital by eliminating delays in payment receipts and reducing late or missed payments. The feature also produces cost savings through reduced administrative costs and lower transaction fees compared to card payments or manual collection methods.
Moreover, the SEPA Direct Debit functionality enhances the customer experience by enabling convenient, recurring, automated payments without repeated manual authorization. It also supports scalability for businesses handling large volumes of recurring payments with reliability and uniformity across SEPA countries.
Breno Oliveira, Head of Product at payabl., stated that each product has been purpose-built to match the workflows, pricing, and operational needs of its use case without compromise. He further added that they are launching SEPA Direct Debit across both their acquiring and business account products to cater to different payment challenges.
In summary, payabl.'s SEPA Direct Debit functionality integrates fully with both its acquiring and business account solutions to power recurring euro payments, automating both collections from customers and disbursements by businesses, while improving control, reducing failed payments, and enhancing cash flow management across Europe.
Fintech company payabl. has implemented SEPA Direct Debit functionality in their acquiring and business account products, aiming to streamline finances and business operations within the European industry by automating outgoing payments and offering secure recurring payments for merchants. This technology-driven solution supports seamless collections, reduces failed transactions, and improves cash flow predictability, while also simplifying payment processes, enhancing customer experiences, and reducing administrative costs.
