barq, a digital payments provider in Saudi Arabia, has partnered with iPiD, a global provider of Know Your Payee (KYP) solutions, to integrate iPiD Validate, a payee verification tool designed to reduce fraud and ensure payments reach the correct recipients.
The partnership supports the development of secure digital payments in the Kingdom and aligns with Saudi Arabia’s wider strategy to strengthen financial innovation and cross-border commerce.
iPiD Validate allows barq to verify payee names and account information in real time, reducing the risk of fraud, lowering the rate of failed transactions, and increasing customer confidence.
“Saudi Arabia is moving at pace to build one of the world’s most advanced digital economies, where trust and security are fundamental. Our integration with iPiD Validate delivers that promise by protecting customers and powering the Kingdom’s digital payments ecosystem,”
said Thamer Alharbi, International Partnership Director at barq.
iPiD Validate is a single global API that checks payee names and account details before payments are processed. It provides financial institutions, payment service providers, and businesses with protection against fraud and misdirected payments, while supporting compliance and improving the customer experience.
With extensive global verification coverage, iPiD enables partners such as barq to offer assurance in both domestic and cross-border transactions.
“barq’s leadership in the Kingdom’s payments landscape makes them a powerful partner for iPiD,”
said Damien Dugauquier, CEO of iPiD.
“Together, we are delivering the trust, speed, and security needed to help Saudi Arabia achieve its digital ambitions.”
Featured image credit: Edited by Fintech News Middle East, based on image by romanshashko via Freepik
