Signicat and Twikey partner to catalyse recurring Single European Payment Area (SEPA) payments in Belgium and the Netherlands
- Digital Identity
- 21.11.2019 09:05 am
Signicat, the Trusted Digital Identity ™ company and Twikey, the market leader in SEPA mandates and specialist in optimizing the payment process of recurring customers, have partnered to allow merchants to digitally sign SEPA e-mandates in Belgium and the Netherlands for recurring purchases. The joint offering will dramatically reduce costly and inefficient paper-based processes.
A SEPA mandate is the authorisation given by consumers that a merchant can take their payments, both future and recurring, such as for rent, utility bills and more. The signing of a SEPA mandate by consumers previously required lengthy visits to the bank and signing paper forms. However, through Signicat and Twikey’s service, consumers can now sign SEPA e-mandates digitally. The digital signing of SEPA e-mandates is an optional service and thus few providers currently offer their customers this effective and secure solution to conclude legally binding mandates online.
The service aims to address the needs of merchants in the Netherlands and Belgium that require a signed contract in combination with a verified legal agreement from the bank for a standard or business level SEPA mandate. Gilbert Hageman, Project Leader of Friesland Lease and Leasefiets, an innovative and sustainable mobility company using the solution states “with Signicat, our customers have the ability to digitally sign the lease contracts with iDIN, so that they no longer have to print, sign with pen, scan and e-mail the contracts. This is a very efficient process, where we also know for sure that the right person has signed.”
Not only does it support merchants in managing and finalizing their contracts efficiently thereby increasing sales and optimizing cashflows, but it also empowers customers saving them both time and making payments effective. “For Friesland Lease and Leasefiets, Signicat and Twikey ensure that we optimize processes for our customers and that our customers have no extra work on signing lease contracts and arranging SEPA direct debit mandates” Gilbert highlights.
“Despite waves of investment in digital transformation, especially around customer engagement, there is still a long way to go to digitize the identification, authentication and building of mutual trust between consumers and businesses” says Gunnar Nordseth, CEO of Signicat. “Consumers expect more, and businesses need to close the gap to accelerate revenue streams. By working with Twikey, we can offer a streamlined solution to the market where businesses are able to identify who they are dealing with online, build the mutual trust and get an e-mandate for ongoing payments with their customers.”
“We have already more than 1 million consumers in Belgium and the Netherlands having signed SEPA mandates digitally” said Dominique Adriansens, Founder of Twikey. “In a lot of cases contracts need to be signed upfront and that’s where Signicat comes in. Their leading expertise in digital identification, verification and signing methods across Europe is the ideal match for assisting companies in search of more digitalization”.
To showcase the benefits of this partnership, Signicat and Twikey are co-exhibiting at Credit Expo Belgium, a summit showcasing leading credit management businesses in the Belgian market with innovative products and services in the areas of electronic invoicing, credit management and more.