Rabobank’s online payment service becomes independent company

SurePay was founded as a corporate startup, offering services to make online payments safer

SurePay

Rabobank’s online payment service becomes independent company. Source: shutterstock.com

SurePay announced to become an independent member of Rabobank Group. It invented the IBAN-Name Check (Dutch solution for Confirmation of Payee) which now enables checking of more than 90% online payments in the Netherlands. This improved the ease of use and security of online payments for both consumers and businesses.

What is more, SurePay’s corporate customer base has boosted to over 40 companies and organizations in the country. They apply the IBAN-Name Check to detect fraudulent or misdirected payments in their business processes.

Due to our existing record of success in the Netherlands, we were approached by several financial institutions in the United Kingdom. As of March 2020, Confirmation of Payee will be in effect in the UK. This is a legal obligation to give end-users of payment systems greater assurance that they are sending money to the intended recipient. We have high hopes for our growth potential in the United Kingdom. As a vendor, we are currently working closely with several financial institutions to implement Confirmation of Payee
Dorine van Basten, CCO of SurePay

In 2019, more than 1 billion online payments were checked by SurePay among which over 10 million checks were performed for businesses. For now, the company intends to introduce extra innovative services to improve the security of online payments and detect fraud.

SEE ALSO: