BNP unites with Worldline to strengthen fight against fraud 

BNP Paribas Cash Management has selected Worldline as it looks to minimise reduce fraud in SEPA Direct Debit transactions.

As a result of the collaboration, BNP Paribas has integrated Worldline’s solution, which combines the electronic signature of SEPA mandates with Open Banking-based account validation in Germany, Italy and France.

Bruno Mellado, Global Head of Payments and Receivables at BNP Paribas, commented: “We were seeking an innovative solution to reduce IBAN fraud in SEPA Direct Debits. We found it with the new account validation functionality of Worldline’s SEPA Payment Suite, which is based on the latest innovative technologies through Open Banking opportunities. 

“By implementing it in our existing SEPA Mandate and Direct Debit solution EasyCollect, the risk of SDD fraud will be reduced and customer loyalty will be strengthened, which is a huge benefit for our clients and their customers.”

SEPA Direct Debit (SDD) is an automated payment method used to pay one-off or recurring invoices in the Single Euro Payments Area via a signed mandate. 

By combining the e-signature of SEPA mandates with account validation using Open Banking, Worldline enhances its SEPA Payment Suite and proposes an innovative extension using Strong Customer Authentication, and provides advanced security that eliminates the risk of IBAN misuse during the mandate signature process.

Alessandro Baroni, Head of Financial Services at Worldline, added on the deal: ‘’Being one of the largest Open Banking providers, we are continuously working on innovative solutions that help our customers to grow and improve their business. We look forward to continuing our long-term partnership with BNP Paribas Cash Management and further build on future products and initiatives.”