Online payments provider BlueSnap this week launched a new payment method that will be important for merchants selling into Europe. SEPA Direct Debit is a payment standard operating in the EU enabling direct payments between bank accounts in different European countries. Direct debit is a popular way to pay in many European countries and this scheme made paying for cross-border e-commerce purchases within the Single Euro Payments Area easier.
According to BlueSnap, SEPA Direct Debit is preferred by 45 percent of European consumers, especially those in Germany, France, Spain, the Netherlands and Italy. While credit card acceptance is most important to U.S. online merchants (and in the U.K.), in the EU, there are roughly twice as many debit cards in circulation and consumers are much more comfortable paying for online purchases using their bank accounts.
“Global e-commerce is growing quickly,” said Ralph Dangelmaier, CEO BlueSnap. “We believe in saving our merchants time and money, which is why we built our platform to offer merchants the ability to accept payments for invoices, online checkout and marketplaces with the popular payment types, like SEPA Direct Debit.”