Buckaroo first PSP to launch e-Mandates

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 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.

“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.

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.