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Direct Debit

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

Direct Debit Agreement

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.

SEPA Direct Debit

Riverty utilizes Single Euro Payments Area (SEPA) Direct Debit. SEPA is the best Debit Debit solution on the European market for these specific reasons:

  1. Trust: SEPA was established by the European Banking Industry in conjunction with National and EU governments

  2. Geographical Coverage: SEPA covers the EU, EES, Liechtenstein, Norway, San Marino, Monaco and Switzerland

  3. Currency: SEPA transactions are in Euros regardless of the participating countries involved

  4. Mandate Management: SEPA utilizes a standardized mandate process

Consumer Benefits

  1. Convenience: Direct Debit eliminates the need to receive, manage, and pay invoices sent by post or email

  2. Flexibility: Consumers have the flexibility to choose the payment frequency and amount (recurring payments), making it easier to manage expenses and budget effectively

  3. 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

Consumer Experience Flow

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Check Out

Riverty provides a streamlined Direct Debit user interface that neatly matches the required IBAN input and Direct Debit agreement legal language with the other payment methods available in checkout.

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Merchant Benefits

  1. 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

  2. Guaranteed Payment: Riverty’s Direct Debit allows merchants to focus on their business and maintain profitability by assuming the risk of customer non-payment

  3. Reduced Administrative Burden: Direct debit reduces merchant’s administrative tasks such as invoice preparation, chasing late payments, and account reconciliation

  4. Customer Retention: Direct Debit can enhance customer satisfaction and loyalty through its ability to schedule recurring payments

Sequence Diagram

Visit our Documentation for additional details
Direct Debit Sequence.png

Get Started

Introduction to the Riverty Merchant Portal

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.