BNP Paribas Selects Worldline to Reduce Iban Fraud in Sepa Direct Debits

BNP Paribas Cash Management has selected Worldline (Euronext: WLN), a global leader in payment services, to reduce the risk of fraudulent activity in SEPA direct debit transactions.

BNP Paribas Selects Worldline to Reduce Iban Fraud in Sepa Direct Debits


BNP Paribas has implemented the Worldline solution, which combines the electronic signature of SEPA mandates with the verification of open bank accounts, in Germany, Italy, and France. In a few months, the process of using this solution will be launched in other countries.

SEPA Direct Debit (SDD) is an automatic payment method that is used to pay one-time or recurring bills in a single euro payment area using a signed mandate.

To prevent the risk of fraudulent use of someone else’s IBAN during the signing of the mandate, BNP Paribas Cash Management has implemented a Worldline solution for checking accounts in its existing White Label product called Easy to Collect. In this case, the financial institution gets the first-mover advantage. The bank also plans to establish a new standard for organizing SEPA direct debit payments.

By combining the electronic signature in SEPA mandates with account verification using Open Banking, Worldline expands its SEPA payment package and offers an innovative extension that uses reliable client authentication and provides enhanced security that eliminates the risk of misuse of IBAN during the mandate signing process.

This solution is beneficial for sellers and commercial companies, as they receive a payment method with minimal risks for security. There are also advantages for the consumer who will be able to improve their user experience.

Bruno Mellado, Global Head of Payments and Accounts Receivable at BNP Paribas, said that the bank was specifically looking for an innovative solution to reduce the risk of fraudulent activity using IBAN when directly debiting SEPA funds. He stated that the implementation of the Worldline solution based on innovative technologies will not only reduce the likelihood of fraud but also increase customer loyalty.

Alessandro Baroni, Head of Financial Services at Worldline, said that the company is constantly working on innovative solutions that help customers grow and improve their business. He also said that he expects to continue long-term cooperation with BNP Paribas Cash Management and further development of future products and initiatives.

Worldline helps businesses of all shapes and sizes accelerate growth. Solutions adapted to the specifics of industries and markets have allowed the company to create a customer base of more than 1 million firms. At the end of last year, Worldline received revenue of 4.4 billion euros.

As we have reported earlier, BNP Paribas Moves Into B2B BNPL.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.