The banks in the Netherlands have collectively developed an e-Mandates solution called Digital Direct Debit Authorisation. As a leading Payment Service Provider, Buckaroo is the first one to launch the Digital Direct Debit Authorisation so that direct debits, or SEPA Direct Debits, can be signed by the consumer with a legally valid digital signature.
This initiative enables fast and effective consumer authentication. It is very convenient and provides for higher conversion and the advantage of reduced cancellation risk.
Digital Direct Debit Authorisation
Digital Direct Debit Authorisation is easy to work with for the consumer. It confirms the agreement to fulfil his payment obligation with the Digital Direct Debit Authorisation within the consumer’s own internet banking environment. It enables the consumer to complete the entire payment authorisation quickly, online and in a familiar environment.
Buckaroo manages and facilitates the process and also provides payees the option to save and review their Digital Direct Debit Authorisations. It’s simple and effective.
Direct Debit Expert
“As an expert in invoicing and payment process simplification Buckaroo has actively participated in an advisory group with representatives from banks and future users.
We believe it is important to set up and manage the payment processes for our merchants as effectively and reliably as possible and we see that the Digital Direct Debit Authorisation is a clear and secure solution to authorise a debit,” says Frank Jongenotter. Frank is a project manager with Buckaroo and is closely involved in setting up the Digital Direct Debit Authorisation process.
Direct Debit Advantages
A few of the advantages for payees:
- More certainty and improved revenues due to reduced cancellation risk
- Fully digital settlement and authentication
- Is supported and offered by all major banks in the Netherlands
- Account number is always correct thanks to bank verification
- Screening for any blocked direct debits takes place immediately
- Is available for existing and new direct debit processes
- A copy of the Digital Direct Debit Authorisation can be stored at Buckaroo. Therefore, you no longer need to maintain your own (paper) administration.
Payment Service Provider Buckaroo has been a supplier of payment solutions since 2005. Buckaroo is one of the main Payment Service Providers in the Netherlands, with over 4.500 webshops and organisations as customers and with 200 (web) partners. Buckaroo has formed part of the Intrum Justitia Group since January 2012. Intrum Justitia is Europe’s largest credit management services provider with over 3.800 employees in 20 different countries.
Buckaroo offers a wide range of modular solutions which can fully automate the entire payment and collection process and all associated administration activities. A large number of (international) payment methods and a completely digitised invoicing system allows for a great deal of time to be saved, plus payments and claims can be collected in a much faster and more customer friendly manner.
Article sourced from Press Release by Buckaroo, October 2015