myTU, an AI-driven digital banking platform, has introduced SEPA Direct Debit, expanding its payment capabilities for businesses across the EU.
The feature allows companies to collect both recurring and one-off payments directly from customer bank accounts under the SEPA CORE scheme. SEPA Direct Debit delivers an automated and consent-based way to charge customers, reducing friction in the payment process. When a mandate is approved, payments are collected automatically, useful for the subscription, utility, telecom, insurance, lending, education, and mobility industries.
Simplifying billing for businesses in Europe
myTU is an automated, AI-driven and clout-native digital bank offering secure and cost-effective solutions with remote onboarding for both businesses and individuals. This includes PaaS, family banking, marketplaces and a loyalty system, all driven by its proprietary core banking platform.
SEPA Direct Debit will join the company’s banking stack, which includes instant pay-ins and payouts, card issuing and acquiring, and digital onboarding. With this launch, myTU further delivers a complete payment infrastructure for modern, API-first businesses operating across Europe.
The new infrastructure drives a billing model where routine payments are automatic and invisible to the user. myTU aims to eliminate the complexity of finance operations and offer businesses more control by offering a platform where payments, onboarding, cards, and SEPA Direct Debit work together through a single API.
The move offers businesses full control over the SEPA Direct Debit lifecycle, leveraging myTU’s API to create, store, update, and delete mandates, submit collection requests, and receive structured callbacks. Additionally, the VOP feature minimises errors during setup and helps ensure payment success.
Unlike other card payments, DEPA Direct Debit provides cost-efficiency and more reliability, eliminating issues such as card expiry, token churn, or failed charges. The solution supports scheduled collections, which help avoid late or missed payments, and is compliant with myTU’s security standards, including ECDSA signatures, IP and DNS validation, secure timestamps, and bidirectional authentication. Additionally, real-time event notifications support automated reconciliation and better integration with accounting, ERP, or billing systems.
