Initiated and strongly supported by the European Commission and the European Central Bank, SEPA essentially creates one zone in which all electronic payments that use the Euro currency are considered to be domestic transactions. For instance, there is no difference between a consumer in France making a purchase from a site that is in Paris and that same consumer making a purchase from a site that is in Spain. Cross-border payments are treated the same throughout the participating countries. Anyone in the area can make cashless Euro payments using a single bank account and payment tool to anyone else located in the area.
Consumer and Merchant Benefits
SEPA is a considerable undertaking, and one which has a host of benefits for both consumers and merchants. For consumers, they are able to make purchases using a system they are comfortable with, that pulls funds from their bank accounts. Additionally, with its inherent single currency feature, SEPA makes it easy to buy from other countries, thereby opening up significantly more markets.
For merchants, it is easier than ever to offer services and products to a large slice of the European population. It is estimated that countries within SEPA have more than 500 million consumers.
How Can I Get Started?
As our Direct Debit service builds off of our EU Debit option, CCBill merchants that already have EU Debit enabled on their accounts will get the SEPA payment option automatically added. If you did not previously have EU Debit on your account and want to get Direct Debit added, feel free to contact our Support Team.