SEPA payments facilitate electronic transfers for businesses operating in the European Union and other member countries, allowing for quick and easy national and international payments. Because of this, SEPA payments are a highly sought-after service in the financial sector. However, there are currently several financial institutions that offer this type of service, which is why it can be difficult to choose an ideal provider. Below, we will share some tips for choosing a SEPA payment service provider for businesses.
Security level
It is recommended that the security level of the provider’s platform be evaluated since SEPA platforms handle highly sensitive financial information, such as account numbers, personal data, and banking transactions. A high level of security allows this information not to be intercepted or compromised by third parties. To evaluate this aspect, you can check the different security mechanisms and protocols that the provider uses to protect its users’ data.
For example, the Pilsenga platform has different security measures such as data encryption, transaction approval, integration of security controls, identity verification platform, backups, multiple asset custody, and two-factor authentication, among others.
Regulatory compliance
It is advisable to assess whether the provider complies with the different regulations and standards of the financial industry and the European Union, as these standards guarantee a certain level of quality and security on the financial platform. It is important to note that SEPA payments operate in an environment regulated by European Union financial regulations and other international laws, so it is essential to comply with these standards to avoid sanctions, fines, and legal problems.
Type of license and complementary services
Generally, financial institutions that provide the SEPA payment service for companies tend to offer other complementary financial services. For this reason, it is recommended to know what other services the provider offers, in addition to verifying what type of license it has, since in this way it can be determined what complementary services are necessary and which are “legal”.
For example, among the main complementary services offered by Pilsenga are the following: dedicated IBAN accounts, batch payments, e-money & IBAN service, Exchange, digital wallet, payment processors, and online ledgers, among others.
Scalability
It is advisable to evaluate whether the provider’s platform has the capacity to scale and whether it can be adapted to the future needs of the company. If the platform is scalable, the company will have the opportunity to grow and expand its operations, being able to project itself and acquire new commercial/financial responsibilities in the medium and long term.
Customer service and attention
It is advisable to evaluate the quality of the provider’s service and customer support, as it is an effective way to get an “idea” of the treatment we will receive, in addition to knowing if the said provider will have the capacity to solve any problem or setback that may arise in the future.
To assess this point, we can contact the supplier through their different official digital channels and analyze the quality and time of their responses. Among the main questions we can ask to assess this aspect are the following:
– Was my question answered satisfactorily?
– Did they try to redirect the conversation to another person or channel?
– Did a bot or a real person answer me?
– How long did it take them to respond?
– Was the treatment cordial and respectful?
What do you think about this topic? Do you want to know more about SEPA payments for companies?
If you are interested in Pilsenga’s products or services (including SEPA payments for businesses), you can contact us by visiting the following link.
