According to studies, the electronic direct debit procedure (ELV) counts due to the simple and convenient payment option and the comparatively low costs (e.g. no discount as with credit cards), both in German eCommerce as well as in other areas, the most popular payment methods. By offering this payment option, which is popular with customers, the customer can be offered significant added value. This helps to lower the abandonment rate and generate additional competitive advantages.
However, there is an increased risk of payment default on the part of the collectors due to the possibility of return debits. This can be countered by a credit check. Risk customers can thus be excluded from ELV and referred to another payment method.
creditPass® offers secure and fully automated processing of the electronic direct debit procedure (ELV) within Germany via various partner systems. In this way, the risk of payment default in existing systems can be easily and effectively reduced by means of an individually adapted credit check.
The ELV at creditPass ® :
- The ELV enables secure payment transactions at low cost
- Return debits can be reduced in advance through a credit check via creditPass
- Fully automated processing of the ELV
- Also available via partner systems (payment service providers)
- Simple and convenient payment option for both the customer and the retailer
- SEPA-ELV additional services such as return debit readout, return debit file, return debit processing and credit file creation possible
Brief overview: Process of an ELV transaction
