Worldline shares plunged by 20% following allegations from multiple media outlets that the French payments processor concealed client fraud to safeguard its revenues.
The “Dirty Payments” investigation, conducted by the European journalism network EIC along with 21 media organizations, reported that it based its findings on confidential internal documents and data from Worldline. The investigation claimed that the company accepted “questionable” clients across Europe, including those involved in pornography, gambling, and dating sites.
According to the reports, Worldline often ignored customers connected to suspicious transactions due to concerns about revenue impact. If any division had an influx of fraudulent customers, those clients were simply transferred to another division.
In response to these allegations, Worldline stated that it has bolstered merchant risk controls and terminated relationships with non-compliant clients since 2023. The company conducted a thorough review of its high-brand-risk portfolio, which includes online casinos, stockbroking, and adult dating services, affecting merchants representing €130 million in projected revenue for 2024. Worldline emphasized its “zero-tolerance” policy for non-compliance and its ongoing engagement with regulatory authorities.