Direct Debit is a popular and trusted payment method in the UK and Europe, used for
21% of all electronic transactions. This payment method has three key features which make it great for businesses collecting payments:
- Pull based: as soon as your customer has signed the mandate you can initiate Direct Debit Debit payments, the customer doesn’t need to lift a finger and the business gets paid on time, every time.
- Bank-to-bank: there are no card networks involved in the Direct Debit scheme. This makes Direct Debit cheaper, eliminates churn due to card expiry and is open to anyone with a bank account.
- Extra consumer protection: your customers are protected by the Direct Debit guarantee.
Which payment method is right for you?