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electronic direct debit (EDD)

Electronic Direct Debit (EDD) is an online direct debit procedure (OLV) used in e-commerce.

The EDD procedure was developed by German banks and corresponds to the direct debit procedure, albeit issued electronically by the customer. The electronic direct debit procedure, which is the equivalent of direct debit, is authorized by the customer's digital signature.

With this authorization, the supplier can debit the account with the authorized amount. The bank transfers the amount to the account of the authorized person or company. The transcation takes place in such a way that the supplier does not learn the customer's bank details.

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Englisch: electronic direct debit - EDD
Updated at: 09.01.2013
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