SEPA Core Direct Debit (SDD Core) Since February 01, 2014, the long prepared migration of credit transfers and direct debits to the Europe-wide uniform standard SEPA is valid. The changeover, which is still in progress, brought about some problems with payment transactions in the 33 European countries involved. Direct debits and credit transfers can still […]

SEPA Direct Debit Form In order to collect a SEPA core direct debit or a SEPA business-to-business direct debit, the payees (creditors) require a direct debit authorization from the debtor (debtor). Since the introduction of SEPA, only the SEPA direct debit mandate is considered a valid direct debit authorization. Simple, informal or verbal direct debit […]

Return Debit A return debit note or direct debit return occurs when a direct debit transaction cannot be executed. The direct debit is then reversed in a procedure defined by the direct debit agreement. In this process, the corresponding amount is credited back to the account of the party obligated to pay and the account […]

What are retail goods? Retail goods are goods that are defined by their physical properties. These goods can be touched – content goods (eg. intangible goods) are the opposite. The latter are digital goods and not physically available goods. The categorization into retail goods and content goods is important for commerce on the Internet. Retail […]

Reservation The term reservation stands for the reservation of a certain amount of money on a credit card. The term pre-authorization is also frequently used in this area. The reason for this is that the amount is reserved or secured so that it can be authorized later, i.e. debited. The purpose of the reservation is […]

Credit Card Company A credit card company is a company that owns or is licensed to use a credit card brand. The companies issue credit cards that can be used by cardholders for cashless payment transactions. Depending on the type of card and the individual financial situation, the customer may be granted a credit line […]

Direct Debit / Electronic Direct Debit Procedure The direct debit is a very common means of payment in Germany for cashless payment transactions and online commerce. In banking, it is called electronic direct debit, and describes a transaction initiated by the payee (“pull” payment), in which the account of the payer is debited with the […]

Billing System Anyone who is active in e-commerce must keep an eye on the current billing system. The option of cashless transactions is becoming increasingly important for customers. There are currently 40 common payment methods in Germany, many of which are actively used by online stores to sell products as quickly and transparently as possible. […]

Refund A refund is a credit granted directly by a merchant. If a purchase is made with a credit card and then reversed, the subsequent credit can be made directly by a refund from the merchant. The same applies to cases in which a debit has been made wrongly. In this case, the debited amount […]

Sales Invoice In many companies today, it is common practice to assign open invoices within the framework of factoring. This sales invoice has the advantage for the company that the invoice is settled immediately by the factor. This increases liquidity because there are no long waiting periods for outstanding receivables. The money from open invoices […]

Rebill It is a term for recurring or regularly due payments. The rebill procedure means that the user of a service is charged again at the end of the payment period with the amount for the beginning payment period. Rebill refers, for example, to the regular billing of memberships or subscriptions. The rebill then takes […]

R-Transactions In the SEPA scheme, R-transactions are all actions that are considered to be exceptional. They mainly include the rejections of direct debits, both on the part of the payer (debtor) and on the part of the payee (creditor). The SEPA payment traffic regulations define comprehensive R-transactions, which apply to credit transfers and direct debits. […]