If you're selling software globally It is essential to offer your customers payment options that are familiar andconvenient for them. This eliminates friction in the buying process, which leads to an increase in customer acquisition and revenues.

assists sellers worldwide by offering a variety of payment methods. One such payment method that is among the most widely used in the European Union -- is SEPA Direct Debit. Not only does this help to make it easier for people to pay across borders in the EU, but it also aids in reducing the chance of payment transactions that fail.

In addition to the new SEPA Direct Debit capabilities the sellers now have the ability to accept payments not just within the SEPA region, but can also access chargeback management as well as provide refunds through the application.

What exactly is SEPA Direct Debit and how does it Function?

SEPA (Single Euro Payouts Area) is an system for transactions that has been implemented across the EU and a few surrounding nations that allow customers and companies to cash-free euro payment through credit card or direct debits to any location within the SEPA region.

Anyone within the SEPA area can perform direct debit transactions in Euros -- no matter the currency their local bank account is based in. This makes it easier and reduces the costs for trans-border transactions.

With the SEPA Direct Debit payment, purchasers are sending money via a bank-to-bank transfer- similar to ACH (Automated Clearing House) in North America. Usually, this clears within two to five working days. It allows effortless, discreet payments to both individuals and businesses.

Why Should I Use SEPA Direct Debit?

Since SEPA serves more than 529 million people businesses looking to expand their international footprint would be foolish not to offer SEPA transactions to prospective clients.

To use SEPA Direct Debit with , sellers need to send an inquiry on the support portal, and within two days of receiving it, it is available for sale on their storefront.

From there, collecting payments from clients is exactly the same as other transactions. For the customers, SEPA Direct Debit will be shown if they're located in one of the regions as listed in our documents. They select the payment method, enter their information, and they're good to complete their transaction.

It's not just easy to set up SEPA Direct Debit via the seller's portal, but it offers several benefits to sellers who want to expand their businesses into the world market

• Broader reach to more than 550 million potential customers in the EU.
• Increased conversion rate by making shopping easier for European customers, since only a quarter of European customers use credit cards.
• Decreased payment failure rates as a result of the bank-to-bank connection SEPA Direct Debit.
• Improved retention through the elimination of failed payments due to credit card expiry or cancellation.