Term
Direct debit authorisation
This is a cashless payment process where the payee has a payment booked through the bank from the account of the payer. The bank payment process is therefore triggered by the payee. The requirement for this, however, is that the payer grants the payee his agreement to the direct debit and their bank has ordered the payment of the direct debits. This takes place by way of a SEPA direct debit authorisation.