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What's a Direct Debit Payment?

Once you have a signed mandate from your payer you can begin to collect payments from the account specified in the mandate agreement.

All Direct Debit payments must have the following:

  • A collection date (also referred to as a settlement date or due date)
  • A payment amount
  • (Optionally) an End-to-End Identifier
  • (Optionally) Remittance Information

The collection date must generally be set to 2 days in the future (this is to allow for payments to pass through ClearingThe Clearing and Settlement Mechanism (CSM) that processes SEPA payments. (The EBA's STEP-2 system allows banks across Europe to use one channel to send and receive their SEPA Credit Transfer and SEPA Direct Debit transactions)). In some cases payments may need to have a later collection date but this is dependent on your specific SEPA scheme configuration.

The payment amount must be provided in Euros and cents.

An End-to-End-Identifier is a unique identification that is applied to all payments, which allows them to be tracked through their lifecycle (from initiation to collection to any potential future rejections). If you do not assign an end-to-end when creating a payment , Nuapay will automatically generate one for you.

Remittance information allows you to provide any additional information related to the payment.

 

>> More information on Payments and Payment APIs