Direct Debit authorizes the merchant’s bank to withdraw funds from the consumer’s bank account in either a one-time or recurring manner.
| Service | Details |
|---|---|
| Geographic coverage | Germany, Austria, Netherlands |
| Consumer communication | E-mail, app, web portal, phone, chat, chatbot, social |
| Customer self-service options | App, web portal |
| Reliable merchant support | merchant service desk, merchant portal, 24/7 monitoring service |
A direct debit agreement is the legal arrangement that authorizes a business to automatically access a consumer’s account. At check-out, the consumer provides their bank account details (IBAN). A direct debit agreement is auto generated once the consumer agrees to Riverty’s general Terms & Conditions and authorizes Riverty to initiate a direct debit payment.
Riverty utilizes Single Euro Payments Area (SEPA) Direct Debit. SEPA is the best Debit Debit solution on the European market for these specific reasons:
Trust: SEPA was established by the European Banking Industry in conjunction with National and EU governments
Geographical Coverage: SEPA covers the EU, EES, Liechtenstein, Norway, San Marino, Monaco and Switzerland
Currency: SEPA transactions are in Euros regardless of the participating countries involved
Mandate Management: SEPA utilizes a standardized mandate process
Convenience: Direct Debit eliminates the need to receive, manage, and pay invoices sent by post or email
Flexibility: Consumers have the flexibility to choose the payment frequency and amount (recurring payments), making it easier to manage expenses and budget effectively
Security: SEPA Direct Debit is protected by strict banking regulations. Consumers have the right to revoke or dispute payments, providing a sense of security against unauthorized withdrawals
Improved Cash Flow: With Riverty’s Direct Debit, merchants can predict and manage cash flow more effectively since payments are automatically collected on predetermined date intervals set by the merchant
Guaranteed Payment: Riverty’s Direct Debit allows merchants to focus on their business and maintain profitability by assuming the risk of customer non-payment
Reduced Administrative Burden: Direct debit reduces merchant’s administrative tasks such as invoice preparation, chasing late payments, and account reconciliation
Customer Retention: Direct Debit can enhance customer satisfaction and loyalty through its ability to schedule recurring payments
Be sure to sign up for a Riverty Merchant Portal Account! Individual transactions are managed through the Merchant Portal, along with access to many other features like financial reports and branding.
The Merchant Portal Guide provides a full tour.
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