Fintech Finance

JANUARY 7, 2025

Tietoevry Banking , the leading provider of financial software solutions, is today announcing that it has registered with the European Payments Council as a provider of Routing and Verification Mechanisms (RVM) for Verification of Payee (VoP) solutions. The industry spends an estimated 120 billion USD annually to address failed payments.

Verification 98

Verification Payee Payer Security 98

Fintech News

JUNE 10, 2024

Regulatory requirements like the UK’s Confirmation of Payee (COP) and Single Euro Payments Area’s (SEPA) Verification of Payee (VOP) necessitate verification processes to ensure secure transactions. said Deya Innab, Eastnets’ Deputy CEO.

Fraud Prevention 114

Fraud Prevention Global Payments Payee Verification 114

The Fintech Times

AUGUST 8, 2024

Australian Payments Plus (AP+) and the Australian Banking Association (ABA) have completed the design of the new Confirmation of Payee (CoP) service which will enable people paying to an account with a name, BSB and Account number to confirm the account name of the payee before the payment is made.

Payee 59

Payee SWIFT Scams Payment APIs and Integration 59

Fintech Finance

MARCH 19, 2024

Swift, which built and runs the NPP, was chosen by Australian Payments Plus (AP+) to build confirmation of payee, which is a security measure that helps protect consumers from fraud by confirming the identity of the payee before a payment is made.

Payee 59

Payee SWIFT Payment APIs and Integration Cross-Border Payments 59

Fintech Finance

FEBRUARY 5, 2025

Numeral , a Mambu company, a leading payment technology provider for financial institutions, today announces the launch of its fully managed Verification of Payee (VOP) solution, empowering financial institutions to comply with the European Unions VOP regulation by the October 9, 2025 deadline. Download the guide at www.numeral.io/guides/guide-to-verification-of-payee

Payee 59

Payee Verification Compliance Payment APIs and Integration 59

The Payments Association

DECEMBER 2, 2024

As part of this, PSPs are required to offer services that verify the payee’s identity before executing a credit transfer. This regulation compels PSPs to reassess their pricing models, potentially leading to revenue adjustments and necessitating strategies to offset reduced margins.

Regulations 88

Regulations Instant Payments Consumer Protection Payments 88

Fi911

MAY 22, 2024

A payment reversal is the process through which funds from a transaction are returned to the payer’s account. When a payment reversal occurs, the transaction is effectively undone, meaning that the payee loses the funds that were initially transferred, and the payer regains their money. What is a Refund?

Payer 92

Payer Address Verification System (AVS) Disputes Payee 92

Fintech Finance

MAY 29, 2024

Form3 , the cloud-native account-to-account platform, today announces that Currencycloud , a Visa solution focusing on simplifying business in a multi-currency world, has selected them to provide account verification technology to support Confirmation of Payee (CoP) activity, designed to reduce fraud in the UK.

Payee 52

Payee Fraud Detection Fraud Prevention Multi-Currency 52

Fintech Finance

APRIL 9, 2024

EBA CLEARING has announced that it will provide its service users with Verification of Payee at a pan-European level as from December 2024. The roll-out of Verification of Payee is one element in the comprehensive preparation programme that the Company is engaging in with its user community to take instant payments to the next level.

Payee 52

Payee Verification Instant Payments Regulatory Compliance 52

FICO

OCTOBER 24, 2018

Given the impact this type of fraud has on both victims and banks Pay.UK (previously known as the New Payment System Operator) has announced that from next year there will be a confirmation of payee service. How Does Confirmation of Payee Work? How Does Confirmation of Payee Work? Here’s an illustration of the process.

Payee 49

Payee Payer Payments Scams 49

PYMNTS

JANUARY 21, 2021

The feature will be available for both payers and payees, and it will offer live updates on the status of international payments at all stages of the fund transfer process, the release stated. In addition, the Payment Tracker will offer insights into potential delays of the payment.

B2B 87

B2B Transactions Payee Payer 87

PYMNTS

NOVEMBER 23, 2020

According to John Innes, CEO of ACH Processing Company , the complex flow of B2B payments in the healthcare space has several areas of opportunity to not only bring efficiency to the process, but actually provide financial relief to both payers, like third-party administrators (TPAs), and payees, like dental offices and private practices.

ACH Processing 77

ACH Processing Payer ACH Payee 77

The Paypers

JULY 17, 2023

Financial technology provider Bottomline has launched the Payer Name Verification service, which is an expansion of Confirmation of Payee (CoP).

Payer 36

Payer Verification Payee Technology 36

Neopay

MARCH 26, 2025

Source : Payments Cards and Mobile The post 8 in 10 UK businesses plan to improve payments processes in 2025 appeared first on Neopay.

Process 52

Process Push-to-Card Automation Payments 52

PYMNTS

OCTOBER 22, 2019

Bank introduced a new eBilling tool also designed both for billers and payers. Designed to take the guesswork out of AP, Bank of America’s new Accounts Payable Optimization solution is certainly marketed as a tool that reduces friction for corporate payers. Bank Targets Both Billers and Payers. Finally, U.S.

Payer 40

Payer B2B Commercial Card Faster Payments 40

Fintech Finance

APRIL 7, 2025

“By securely connecting payers and payees, directories reduce friction and drive broader adoption. This report explores key considerations for organizations leveraging directory services and their potential impact on the future of faster payments.”

Instant Payments 98

Instant Payments Faster Payments FPC Interoperability 98

Fintech Finance

JULY 16, 2024

These payments do not require the payer to hold any customers’ bank account details, whilst at the same time removing the need to issue paper cheques. Requiring only the recipient’s name and mobile phone number, using the latest Open Banking technology the payments can be made directly into a recipients bank account.

Continuity 97

Continuity Crime Payee Payer 97

PYMNTS

SEPTEMBER 26, 2019

Push, or credit, transactions see payers instructing their banks to send money from their accounts to recipients’ accounts, whereas pull, or debit, transactions have recipients’ banks extract money from payers’ accounts. Payers provide PINs or signatures, which grant recipients permission to extract funds.

Payer 67

Payer Push-to-Card Real Time Payments Payee 67

Fintech Finance

AUGUST 15, 2024

The Sionic Fraud Protection Service (FPS) is the final component required for true Pay-by-Bank transactions at the point of sale, alongside verified buyer and seller credentials, a consistent customer experience and automated dispute resolution instantly between payers and payees.

AI 97

AI Fraud Detection Technology Real Time Payments 97

FICO

SEPTEMBER 21, 2016

The technique enables the model to capture habits of both payer and payee from different dimensions. Based on one study, the transactions that deviate from a customer’s behavior-sorted lists across all dimensions is a minimum of 30 times riskier than the transactions that follow at least one behavior-sorted list.

Payer 64

Payer Payee Fraud Detection Payments 64

PYMNTS

JANUARY 28, 2021

This week's look at the convergence between accounts receivable (AR) and accounts payable (AP) finds this tactic expanding in the corporate card arena, while another FinTech aims to boost cross-border payment traceability for both payer and payee. Tat Capital Eases Card Acceptance For Vendors.

Innovation 61

Innovation Payer Cross-Border Payee 61

Fintech Finance

OCTOBER 23, 2024

Setting up Direct Debits or paying money through banking apps can be open to human error, with the payer having to input the recipient’s banking details manually. A third of people pointed out that they have often set up a new payee on their banking app only to pay them once or twice, despite the effort of setting the details up.

Online and Mobile Banking 97

Online and Mobile Banking Payer Payments Payee 97

Fintech Finance

APRIL 4, 2024

iPiD , a leading payment validation solutions provider, today announced the publication of a pivotal whitepaper, “Verification of Payee: The Race to Compliance,” authored by CEO Damien Dugauquier. The paper is now available on the iPiD website at www.ipid.tech/verification-of-payee-the-race-to-compliance.

Payee 40

Payee Service Provider Verification Compliance 40

The Fintech Times

FEBRUARY 4, 2024

In all of these cases, the acquirer, i.e. the provider of the service to the merchant has an obligation to perform CDD on their customer, the merchant, but never on the payer. To be clear, payers never get into the CDD scope of e.g to allow European PISPs to compete on a level playing field.

AML 59

AML Regulations Payer Due Diligence 59

Fintech Finance

SEPTEMBER 9, 2024

Many businesses expressed concern with sharing their business identity and payer information as well as performing other online activities including: Opening unsolicited emails, texts or SMS messages (30%). Sharing business and payer information online with e-commerce sites and apps (20%).

Online and Mobile Banking 97

Online and Mobile Banking Credit Cards Scams Payer 97

Fintech Finance

JUNE 10, 2024

By integrating iPiD’s verification solutions, we empower our clients to comply with critical regulations like the UK’s Confirmation of Payee and SEPA’s Verification of Payee, significantly reducing transaction risks.”

Payee 52

Payee Instant Payments Verification Payer 52

PYMNTS

NOVEMBER 19, 2020

With all of the problems and challenges 2020 has thrown at us, the last thing anyone needs is a nagging perceptual rift between payees and payers about what “instant” means. Payers claim, however, that they make only 45.3 Yet, there it is. The majority of consumers, at 58.4 percent, and microbusinesses, at 70.8

Instant Payments 94

Instant Payments Non-Bank Payer Payments 94

PYMNTS

JANUARY 12, 2021

There is no customer experience between the government, as a payer, and the citizen recipient. And that, along with creating a digital engagement between the governmental payers and the citizen payees, will make it possible to achieve real optimality when it comes to pushing out a payment quickly and safely.

Governance 90

Governance Government IRS Payer 90

PYMNTS

MARCH 16, 2018

The solution would require both payer and payee to create a blockchain-based digital wallet, enabling payments to occur on the blockchain platform itself rather than via a third-party institution. If approved, the platform would automate processing and adjust accounts on both ends of the transaction.

Faster Payments 77

Faster Payments Blockchain Payee Payments 77

PYMNTS

MARCH 9, 2020

Payers have to know that payees will accept certain payment methods before making purchases, and payees do not want to invest until they know payment instruments are in demand. Payers who receive the requests can then decide to comply and issue the funds in real time or decline the transaction.

RTP 81

RTP TCH ISO 20022 Real Time Payments 81

PYMNTS

OCTOBER 24, 2016

After all, corporate payers generally depend on that 30-, 60- or 90-day grace period between when they receive an invoice and actually pay their supplier. “The payers and the payees are going to have greater visibility and transparency into transactions,” he said.

Blockchain 77

Blockchain B2B Real Time Payments Payer 77

PYMNTS

DECEMBER 30, 2020

The migration of the procurement and purchasing process to seller platforms and digital marketplaces will be a driving force into 2021, B2B payment leaders agree, and this trend will drive further change in both payer and payee expectations. Speed will be key in several workflows of the B2B commerce experience.

B2B 119

B2B Payer Payments BNPL 119

Fintech Finance

APRIL 11, 2024

Verituity , a leading provider of intelligent, verified payout solutions, today announced the integration of Mastercard Move , Mastercard’s portfolio of domestic and international money transfer solutions, into its payments platform, enabling near real-time payouts for commercial banks and payers.

Cross-Border 52

Cross-Border Visa Payee Near Real-Time 52

PYMNTS

OCTOBER 1, 2018

According to NACHA , the B2B directory will be structured as a network of credentialed service provider “sub-directories,” in which trusted and validated payee information will be stored. Credentialed service providers will allow access to the stored electronic payment information, including ACH payment details and other payment methods.

NACHA 56

NACHA Business Payments Payee ACH 56

NFCW

JUNE 25, 2024

“When paying offline, personal transaction details would only be known to the payer and the payee and would not be shared with payment service providers, the Eurosystem or any providers of supporting services.

Central Bank 103

Central Bank Online and Mobile Banking Legal Framework Caps 103

PYMNTS

SEPTEMBER 18, 2018

In one case, a payer may send a payment through a supplier network, such as AvidXchange. And in another case, which Berdan said is more frequent, payments will come from an accounts payable system within the payer. Most commonly, those payments are sent by automated clearing house (ACH).

Lockbox 68

Lockbox FinTech Payer ACH 68

Fintech Finance

JULY 4, 2024

The Bank for International Settlements (BIS) defines offline payments as the transfer of a digital money token between devices that takes place without the payer and payee requiring a networked connection to any ledger system or backend system to complete the payment. G+D Filia® Unplugged makes digital offline transactions a reality.

Digital Payments 98

Digital Payments Online and Mobile Banking Central Bank Financial Inclusion 98