August has been a busy month, with the addition of SEPA direct debit as a new payment method as well as the support of counterparties.
With the launch of SEPA direct debit, in addition to SEPA credit transfer and SEPA instant credit transfer launched in February and July respectively, Numeral now supports all SEPA payment methods. SEPA direct debits are payments pulled from a debtor’s bank account by a creditor using a direct debit mandate. They can be used to collect software subscriptions, insurance premiums, loan repayments, or any form of one-off or recurring payments. We are currently supporting BNP Paribas and Société Générale and will progressively expand support to other banks. Learn more in our SEPA direct debit guide
Counterparties are companies or individuals companies send payments to or collect payment from. Until now, Numeral customers had to pass to the API all counterparty information, such as name and account number, to create a payment order or expected payment. With the support of counterparties, customers can now create counterparties and counterparty accounts in Numeral and use their Numeral IDs to create and filter payments. Multiple counterparty accounts can be linked to a single counterparty and payments can be filtered by counterparty or counterparty account to give customers a view of their payments per counterparty. Find our to use counterparties in our guide.