myTU launches SEPA Direct Debit for recurring payments

By Vriti Gothi

myTU, a cloud-native digital banking platform, has added SEPA Direct Debit to its suite of payment services, enabling businesses across the European Union to collect both recurring and one-off payments directly from customer accounts under the SEPA CORE scheme.

The new capability offers an automated, consent-based method for charging customers, reducing friction in the payment process. Once a mandate is approved, payments are collected automatically, making the solution particularly relevant for sectors such as subscriptions, utilities, telecom, insurance, lending, education, and mobility.

Raman Korneu, CEO and co-founder of myTU, said, “This new infrastructure supports a billing model where routine payments become practically invisible to the end user. Our goal is to take complexity out of finance operations and give businesses more control. We’re building a platform where payments, onboarding, cards, and now SEPA Direct Debit work seamlessly together through a single, programmable API.”

Through myTU’s unified API, businesses can manage the full SEPA Direct Debit lifecycle, including creating, updating, and deleting mandates, submitting collection requests, and receiving structured callbacks at each stage. Built-in Verification of Payee (VOP) aims to reduce errors and improve payment success.

Compared with card payments, SEPA Direct Debit offers lower processing costs and higher reliability by eliminating issues such as card expiry, token churn, or failed charges. Scheduled collections also help businesses avoid late or missed payments. Security measures, including ECDSA signatures, IP and DNS validation, secure timestamps, and bidirectional authentication, are integrated into the platform, alongside real-time event notifications for automated reconciliation and smooth integration with accounting, ERP, or billing systems.

The launch adds to myTU’s expanding banking stack, which already supports instant pay-ins and payouts, card issuing and acquiring, and digital onboarding. By integrating SEPA Direct Debit, the platform strengthens its position as an API-first infrastructure provider for modern European businesses.