The Single Euro Payments Area (SEPA) is a payment-integration initiative of the European Union for simplification of bank transfers denominated in euro. SEPA clearance is based on the IBAN bank-account identification and the SWIFT-BIC bank identifier.
Domestic euro transactions are routed by IBAN; The SEPA is a simple and efficient payment method available to your customers thought (EU) European Union, while improving international transaction speed and cost efficiency.
SEPA Payment regulations are standardized within the EU and become a key payment method for those Publishers who desire to expand their video business in Europe.
Cleeng supports SEPA Direct Debit one-off in more than (20) twenty SEPA countries and can be used for one-time payments, but also for the recurring payments such monthly subscriptions.
SEPA is automatically integrated into the Cleeng checkout. This means that our system recognized the country where your customer is based in and displays the SEPA method automatically, next to other popular payment methods (credit cards, paypal, local payment methods).
When using SEPA as a payment method, your customers get an immediate access to the premium content they purchase from you.
NOTE: Although they receive an immediate access to the content the settlement of the charge between Cleeng and the customer’s bank takes place a few days later:
- All SEPA Direct Debit transactions (one-off, first and recurring) takes 2 business days
- First SEPA Direct Debit transaction (one-off and the first transaction of a recurring model) takes 6 business days
- Recurring SEPA Direct Debit transactions occurs 3 business days
Definition of Terms:
IBAN (International Bank Account Number) - which you can use when making or receiving international payments.
SWIFT code (or SWIFT-BIC) is a code that helps overseas banks identify which bank to send money to.