SurePay,, StreamMind Target Fraud

SurePay, and StreamMind launched Thursday, December 16 a cross-border control / IBAN confirmation solution for beneficiaries, allowing companies and banks to confirm that the account information corresponds to the intended beneficiary for cross-border payments between France and the Countries -Low .

The IBAN check, known in the UK as Confirmation of Payee, gives consumers, banks and businesses more confidence in routing their payments to intended recipients, the joint announcement said.

“Since implementing our IBAN-Name Check for banks and businesses in the Netherlands in 2017, our customers have seen an 81% drop in reported scams and a 67% drop in misdirected payments,” said said David-Jan Janse, CEO of SurePay.

“The next natural step has been to make our solution available for cross-border payments, and we are very proud of our partnership with SEPAmail and StreamMind, which enables us to achieve this goal,” he said. offers an account control solution in France for over 90% of bank accounts, and SurePay’s IBAN-Name Check solution controls 99.5% of all online payments in the Netherlands.

“With this partnership with SurePay and thanks to the help of StreamMind, we are now entering another dimension which is the European space to offer a real international solution to fight against IBAN fraud”, declared Jacques Vanhautère, CEO of SEPAmail .eu.

“This connection between France and the Netherlands is a first big step towards a trans-European IBAN reliability solution for the French and Dutch communities,” he said.

StreamMind has set up the transnational SEPAmail infrastructure, which will allow French and Dutch companies and banks to verify that payments go to the intended beneficiary before the transaction is initiated.

IBAN checks run through the Bank’s Account Database, which aims to reduce fraud and misdirected payments while increasing efficiency and lowering operational costs.

The partnership will link more than 30 Dutch banks and 114 French banks.

“Our goal is to secure exchanges and transactions between organizations and humans,” said Nicolas Muhadri, CEO of StreamMind, in the joint announcement. “We believe that this partnership is a step forward in international development to fight against payment fraud. We know this is just the start.

Related: The European Payments Initiative: setting up the infrastructure of the European application for super-payments

Meanwhile, across 44 countries in Europe, dozens of languages ​​and a myriad of ways to pay, complicated cross-border and cross-functional infrastructure could potentially spawn a ‘super app’.

Martina Weimert, CEO of the EPI Interim Company, told Karen Webster, CEO of PYMNTS in September, that digital wallets, instant payments and buy now, pay later (BNPL) options will coexist in a unified way beyond borders.



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