Here are the key benefits of implementing a SEPA payment system for your business:
What are SEPA Payments?
Since its introduction in 2009, the Single Euro Payments Area (SEPA) Direct Debit scheme has become a standardised method for euro-denominated payments across Ireland, the European Union, and the wider EEA. It enables consumers and businesses to make and receive cross-border euro payments under the same conditions as domestic payments securely, efficiently, and at low or no additional cost.
With Flexipay’s flexible payment solutions, any business can easily request and accept SEPA payments. Designed with business owners in mind, our platform simplifies payment collection by enabling you to send SEPA payment requests, receive euro transfers, and set up automated payment plans, all in one place. Give your customers access to one of Europe’s most secure, reliable, and widely accepted payment methods by choosing Flexipay.
Key Benefits of SEPA Payments for Businesses
Accept cross-border euro payments
Receive payments quickly and securely from customers anywhere in the Eurozone, under the same conditions as domestic transfers.
Secure and low-cost
SEPA payments follow EU banking regulations (PSD2), ensuring bank-level security and typically low or no additional fees.
Simple setup with Flexipay
Accepting SEPA deposits, full payments, or instalments is fast and easy. Get started today and streamline how your business gets paid.
How Flexipay SEPA Payments Work
Setting up your business to receive SEPA payments with Flexipay is quick and straightforward. Any business in Ireland with a euro bank account can take advantage of SEPA, a secure, standardised way to collect deposits, full payments, or instalments directly from customers’ bank accounts across Europe.
Here’s how it works:
- Connect your business account Link your business bank account to Flexipay through our secure Stripe Connect integration. This allows you to receive SEPA payments directly into your account.
- Send a payment link
Create and send a payment request to your customer. Each link allows them to authorise payment safely using their IBAN through the SEPA Direct Debit process. - Collect payments automatically
Once authorised, Flexipay automatically collects each payment depending on the contract terms you have set – This may be deposit, full payment, or scheduled instalment payment plan. Funds are processed securely through the SEPA network and deposited into your business account.
Why Choose Flexipay for SEPA Payments?
Flexipay is your ideal flexible payment solutions provider for direct debit through SEPA. Our platform makes it simple to start accepting SEPA direct debit transactions on your online store or in your shop through your POS terminal. Here’s why businesses choose Flexipay for SEPA payment solutions:
Increase Sales Revenue
SEPA is extremely common and many customers expect that businesses will accept it. Offer your customers this hugely popular form of payment to boost sales potential.
Fully Secure Transactions
SEPA transactions are fully secured by banks participating in the scheme. Business owners can have full confidence that transactions will process as expected.
Seamless Integration
third-party payment processors such as Stripe offer SEPA integration and Flexipay’s payment solutions make it a breeze to integrate SEPA within your business.
FAQs Section – Addressing Common Concerns
How does a SEPA payment system work for my business?
A SEPA payment system allows your business to accept quick SEPA direct debit transactions from customers that in most cases are free or very inexpensive. The process requires that both the customer and merchant have a bank account with an IBAN that is capable of SEPA transactions. Some transactions are possible for foreign bank accounts, however.
The process starts with the sender (customer) initiating the transfer. Their bank authorises the payment and the transfer is facilitated by the SEPA network. The receiver (merchant) receives the transfer in seconds or up to one business day, depending on the type of transaction, after their bank receives payment. The transaction is then reconciled and confirmed.
Can my business accept SEPA payments from other countries?
SEPA payments are the norm in Ireland as well as the Eurozone and non-Eurozone European countries. A total of 38 countries have implemented SEPA transactions, including countries that do not use the euro as currency such as Switzerland, the United Kingdom, Denmark, and Sweden.
Your business can accept SEPA payments from customers paying with cards associated with banks in any of these countries. Business owners can be confident that the SEPA transaction will clear whether it is conducted in euros or a different currency.
How secure are SEPA deposits and transactions?
SEPA transactions are extremely secure because participating banks are liable for maintaining the security and operation of the system. All transactions are guaranteed by the participating banks, of which the overwhelming majority have adopted the SEPA system as of 2016. Since 2017, SEPA Instant Credit Transfers up to €15,000 can be conducted in less than 10 seconds. Other SEPA transactions are settled within one business day.
This means that business owners can rest assured that SEPA transactions will clear quickly and securely. There is no need for business owners in Ireland to be concerned with the security of the system.
Provide your customers with SEPA transactions with Flexipay.
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