SEPA is one of the payment methods supported by CopeCart. This means that your customers can direct debit for products purchased at CopeCart.
IMPORTANT! For security reasons, SEPA is available for validated users only.
Vendors who have not successfully completed the User Validation Procedure (KYC), cannot set SEPA as the available payment method for their customers.
SEPA direct debit payment flow
When a customer selects SEPA as their payment method at a checkout page and provides all the necessary payment details (their name, contact data, IBAN), they authorize the mandate and, thus, agree to debit.
It means that CopeCart debits the customer's account directly.
The direct debit does not succeed instantly: On average it takes five business days until the payment is processed. Sometimes in special cases (it depends on banks), it can take up to 14 business days to process the payment. Until then the payment status will be pending.
If you'd like to provide your buyers with instant access to the product even when the payment is still pending and there is a possibility that it will fail, we can arrange that with your fulfillment partner. Just let our support know about your request in the Chatbox in the lower-right corner of this website.
IMPORTANT! SEPA transactions are not immediate. Since processing a SEPA refund can take up to five business days, always inform your customers that you have refunded them to avoid double refunds and chargebacks.
Any chargeback initiated up to eight weeks after debiting is honored automatically on a "no questions asked" basis.
In this case, the amount debited will be charged from the Vendor's account and returned to the customer's account. The Vendor will also pay an additional chargeback fee.
Read more: Chargeback policy at CopeCart
Reasons for chargebacks
Possible reasons for a chargeback—or, as it is sometimes called, a dispute—include but are not limited to:
Insufficient funds at the customer's account.
The customer's account has been frozen.
The customer has provided incorrect account information.
The customer has rejected/denied a direct debit.
The Vendor has not fulfilled their side of the agreement.