SlimPay Proposes New SDD Offer for E-merchants
- In November 2010, SlimPay was granted PI authorisation by the Banque de France. It now launches a complete SEPA compliant online direct debit management offer. End 2010, this company already launched electronic signature of direct debit mandates and credit transfers as well as direct debits for third parties. This launch confirms its position on all the SEPA direct debit value chain.
- This solution will enable e-merchants to propose subscriptions without obligations; customers will be able to manage their mandates online. The e-merchant benefits from features similar to those proposed for the management of other online means of payment: fraud detection module, transaction management interface, payment pages customisation module, etc.
- SlimPay is one of the first French Payment Institutions dedicated to the management of SCTs and SDDs. Last week, Prosody also announced an SDD management offer elaborated in partnership with Sopra Group.
- These two initiatives confirm that this market sector became strategic since SEPA implementation: SDD appears as a simple and affordable means of payment for e-merchants (direct debits management used to be expensive and for large retailers only) and for online purchasers.
- SlimPay first targets the market share left by cheque desaffection, largely offset by an increase in direct debits (+8.3% in transaction numbers in 2009). The company assessed this part at 10 billion euros for 2010. Also, the Banque de France registered 6 billion credit transfers and direct debits in 2009, for 21,000 billion euros.
- SlimPay proposes an alternative to online bank card payment, which is more expensive (variable cost rather than a fixed one) and more demanding, notably for recurring payments (issue of expiration dates and changes in card numbers). This solution is then designed to respond to the needs of online contents vendors wishing to propose subscription offers. It could be integrated in one-click payment solutions generally praised by both consumers and merchants.