European merchants can now process transactions with a local payment method: SEPA Direct Debit (SDD). Available on HiPay, here are some facts about this payment method.
SEPA Direct Debit (SDD) is a standardized payment method based on automatic debiting. This solution can be used for one-shot and recurring payments but only for transactions in euros. HiPay offers this payment option in 19 European countries.
Key SDD figures
There are 342 million European consumers eligible for this solution. After bank cards, this payment method has the most potential for growth with around 36 million euros transferred each year. It is the most common payment method in Austria, the Netherlands, Spain, the U.K. and Germany. Payment via SDD accounts for 16% of purchases in Germany!
WHY USE SEPA DIRECT DEBIT?
Unlike recurring payments with credit cards, payments via SEPA Direct Debit have neither expiration date nor amount limit. Your clients can buy as much as they want with no time restriction!