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Direct Debit payments allow you to debit your payers' bank accounts for your business's goods and/or services.
In order to take payments you must have the following:
- A SEPA Creditor Scheme Identifier
- A Merchant account
- Signed mandates from each of your customers
Once you have been configured (see Request an API Key for more details) on the Nuapay system with a Creditor Scheme ID and a merchant account, Nuapay offers you a powerful RESTful API to allow you to set up and manage all your mandates and payments.
|Overall Steps to Process Direct Debit Payments
- Register with Nuapay (you will be assigned a Creditor Scheme ID and a Nuapay Bank Account)
- Set up your mandates and pass them to your payers for authorisation (we recommend that you use electronic mandates)
- Add Direct Debit payments (you may add a single payment or a schedule of payments as required) with the single payment (or the first in your schedule) having a settlement date in the future
- Your payments will be passed to the typically 2 days prior to the settlement date
- As some payers may not be debited on the settlement date (there may be insufficient funds in their accounts for example) the value of the unpaid (REJECT) transaction will be a debit against your settlement amount (see the SEPA Error Codes for more on this)
- On the settlement date funds will be debited from your payers' accounts and credited to your Nuapay account
- Your settlement amount (minus fees, if applicable) are then debited from your Nuapay account and credited to your physical IBAN on the settlement date
- Unpaid transaction may also be processed after the settlement date (RETURNs and REFUNDs); the value of these R-transactions will be applied as debits in your next settlement. For more details see List Failed Payments.