Preventing payment of phantom invoices through partnership with SurePay

We are pleased to announce our partnership with SurePay. SurePay is the inventor of the IBAN Name Check. This solution allows you to make sure that master data of creditors are correctly entered in your administration, thus preventing errors and payment fraud, such as payment of phantom invoices.

Maarten de Ru, Director Partners & Alliances at ISPnext explains: ''We are incredibly excited about the opportunities offered by our partnership with SurePay. Thanks to SurePay's expertise, we are able to ensure that money is always transferred to the right person or organisation. This is essential to prevent fraud, incorrect payments and collections. Through our partnership with SurePay, we are able to offer our customers an even better service and make their payments more secure.'’

Fraud prevention using IBAN Name Check

Every year millions of euros are being paid out incorrectly as a result of mistakes or deliberate fraud. By using the IBAN Name Check, you can be sure that the account is correct and in the name of the right supplier or customer. If it is not, a warning will be shown. Jamay Smits, Head of Business Development & Sales at SurePay explains: ''Customers of ISPnext can start using our IBAN Name Check. By using the Vendor Management solution, the name & IBAN can be checked immediately. This way, you can be sure that you are collecting from and paying the right supplier. In addition, data such as VAT and Chamber of Commerce number can be checked in combination with the IBAN, i.e. the master data of an invoice. Changes in data are immediately updated in your records.''

''By using the IBAN Name Check, you can be sure that the account is correct and in the name of the right supplier or customer.’'

- Jamay Smits, Head of Business Development & Sales | SurePay

About SurePay

SurePay was founded in 2016 and provides the IBAN Name Check solution to practically every major Dutch bank. More than 500 organisations, including insurance companies, pension funds and energy companies, also use the solution to reduce fraud and errors in business processes, such as with the onboarding new customers and suppliers.

Vendor Management in 5 steps

Download the white paper Vendor Management in 5 Steps and discover how to get the most out of your vendor relationships. Learn the essential steps to manage risk, improve performance and build strong partnerships. Start optimising today!

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