Paymentworld: An Overview

Paymentworld is a legitimate and regulated company based in Malta that offers a SEPA Direct Debit processing service to online merchants. It is not a scam. If you are seeing payments being done to Paymentworld from your bank account, that is because we are charging you in the name of our clients, whom you have mandated to charge you through the SEPA Direct Debit scheme. The merchants that we work with come from a multitude of industries.

The Single Euro Payments Area (SEPA) is a payment network that makes it easy and cheap to process euro payments in the European Union (EU). SEPA Direct Debit is a specific payment scheme within SEPA that is used for regular payments such as for subscriptions and bills. Like all SEPA payments, these transactions must be in euros, and payments are bank to bank. SEPA Direct Debit is quite straightforward: the creditor issues a contract called a “mandate” with all the details necessary about the direct debit. Once the customer consents, the merchant pulls the payments on a regular basis, notifying the customer before the payment is due. See this guide for a more comprehensive overview.

Please fill in the form below. You should find your customer number and the mandate reference number when checking the transaction details in your bank account. With this information we will be able to identify which merchant you have mandated to regularly charge you. Then, if you still wish to stop being charged, we can stop future payments. Identifying the merchant before cancelling the mandate is highly recommended because they might be providing you with an important service such as your internet connection or insurance. Stopping the payments may result in you no longer receiving such service.