Direct debit mandates really are the ugly stepchild of @EPC_SEPA payments. No digital authorization standard, no mandate tokens, no standardized creditor registry.pic.twitter.com/4ZWWFCoD6z
You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more
Is there a European consumer bank which lets you generate a virtual bank account number for direct debit mandates? https://www.accenture.com/t00010101T000000__w__/au-en/_acnmedia/PDF-29/Accenture-Payments-Virtual-Accounts.pdf …
Funny how Fraunhofer identified the weaknesses of SEPA direct debit 7 years ago and nothing has improved: - Most of Europe uses the two-corner model (bad) - Netherlands is on three-corner (good) - Fraunhofer recommends four-corner (bad) http://publica.fraunhofer.de/eprints/urn_nbn_de_0011-n-2752628.pdf …pic.twitter.com/2FWbF2SUeH
The three-corner model (through the debtor bank) is the best option here, because it guarantees validity of the direct debit mandate and does not rely on the debtor bank to initiate the validation process (step 4). The four-corner model adds too much friction.pic.twitter.com/TrDVIpPKjf
Never quite realized how cheap SEPA direct debit transactions are: €2 per batch https://www.ing.nl/zakelijk/betalen/geld-ontvangen/incasso/ … If you have 2,000 subscribers for €15 per month, collection would cost you 0.007% of your revenue vs 3% for credit cards on a standard Stripe contract That’s 460x cheaper!pic.twitter.com/BSQTVZSeo3
The obvious weakness of the three-corner model for direct debit transactions is that it relies on the debtor bank to provide a good user experience. Is it even possible to provide incentives for that in a system of federated monopolists?pic.twitter.com/MSV72nQSxl
Perhaps Bunq comes close as you are able to add actual bank accounts on the fly that you can tie direct debits to. Bunq also requires a confirmation from the user per direct debit transaction.
I assume those separate bank accounts have to be manually funded though? You need to confirm each direct debit transaction? That’s pretty neat. I assume you get a push notification?
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.