Account-linked payment procedure in which the payee, for example, a merchant, debits the payment amount directly from the customer's bank account by direct debit. To use the direct-debit system, customers must provide their bank details such as bank name, account number and IBAN and issue a direct debit authorization. Direct debit is a popular and cost-effective payment method for recurring payments, such as subscriptions, rents, insurance premiums, electricity or water bills.
