Journalists allege massive fraud at Worldline

Europe's largest payment processor Worldline saw its share price drop 41 percent yesterday in a single session after reports that the company allegedly covered up fraud by some of its customers. The allegations centre around high-risk customers including porn and gambling sites, which were mis-assigned by merchant category code to low-risk categories. Other allegations included keeping on or re-assigning customers after concerns were raised by networks such as Visa, and chargeback rates greater than one percent sustained over more than six months. The business has had a roller coaster ride over recent years, with its market value rising to 20.7 billion euro in 2020 before dropping down to 1 billion euros in 2025. The latest report wiped 500 million euros off its value. "The company also said that it had conducted a 'thorough review' of brands it deemed to be higher risk over the past two years, resulting in the cancellation of business worth 130 million euros in revenue," reports Reuters. "Worldline added that it maintains 'zero-tolerance' for non-compliance with regulations and engages regularly with regulatory authorities. When asked by Reuters to respond further, Worldline declined to comment beyond its statement. German financial regulator BaFin declined to comment and pointed to its previous statements on Worldline's Payone after it appointed a special representative to monitor the business in January."