The Payments Association

APRIL 26, 2024

The timeline for tranche two of the institutions mandated by the PSR to join the CoP service in the UK is imminent (SD 17 requires that named organisations have implemented solutions by 31st October 2024), with the EU releasing their draft Verification of Payee (VoP) rule book for consultation (which closes 19th May 2024), and is expected to enter (..)

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Payee Verification Consulting Rules 88

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.

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Payee Verification Instant Payments Regulatory Compliance 52

Finextra

MAY 7, 2024

Today the European Payments Council (EPC) launches a public consultation on the Verification Of Payee (VOP) scheme rulebook.

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Payee Consulting Verification Payments 59

The Nilson Report

APRIL 22, 2024

The post Pan-European Verification of Payee Ready by December appeared first on Nilson Report.

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Payee Verification Posting Payments 52

Fintech Finance

APRIL 11, 2024

With impending regulatory changes from the UK Payment Systems Regulator (SD17) and EU legislation on Instant Payments, data and security (PSD3), it is imperative that financial institutions have Verification of Payee (EU) and Confirmation of Payee (UK) solutions in place.

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Payee Verification Payment APIs and Integration IBAN 52

Finextra

OCTOBER 16, 2024

Following a public consultation on the proposed Verification Of Payee (VOP) scheme rulebook and the proposed European Payments Council’s (EPC) recommendations for the matching processes under the VOP scheme rulebook, the EPC is launching the first version of the VOP scheme rulebook developed to support payment service providers (PSPs) in the Single (..)

Payee 52

Payee Verification Instant Payments Legal 52

Fintech News

JUNE 10, 2024

Eastnets, a global compliance and payment solutions provider, has entered a strategic partnership with iPiD , a beneficiary name and bank account verification service. This collaboration aims to enhance payment security and efficiency for banks, corporations, and financial institutions on a global scale. said Deya Innab, Eastnets’ Deputy CEO.

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Fraud Prevention Global Payments Payee Verification 117

The Paypers

OCTOBER 31, 2024

The European Payments Council (EPC) has released its Verification of Payee (VOP) Application Programming Interface (API) specifications.

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Payee Verification API Payments 54

Finextra

JULY 8, 2024

At EBAday 2024, Hays Littlejohn, CEO, EBA Clearing and Erwin Kulk, Head of Service Development and Management, EBA Clearing, explain how network-based fraud pattern and anomaly detection can boost the customer experience and safety provided by verification of payee checks.

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Payee Verification Mitigation Checks 52

Finextra

DECEMBER 5, 2024

The European Payments Council (EPC) launches today a call for interest inviting organisations to express their intention to offer services as a Verification of payee (VOP) scheme-compliant Routing and/or Verification Mechanism (RVM) in the EPC VOP scheme.

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Payee Verification Payments 52

Finextra

MAY 2, 2024

At NextGen Nordics 2024, FinextraTV and Kannan Rassapan, CEO of Banfico, dive into the evolving landscape of account verification services and Confirmation of Payee (CoP) implementation in the Nordics.

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Payee Verification Addressing Accounts 59

The Nilson Report

JUNE 3, 2024

The post Belgian Banks Choose SurePay as Verification of Payee Vendor appeared first on Nilson Report.

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Payee Verification Posting SWIFT 52

Finextra

OCTOBER 11, 2024

Following a public consultation on the proposed Verification Of Payee (VOP) scheme rulebook and the proposed European Payments Council’s (EPC) recommendations for the matching processes under the VOP scheme rulebook, the EPC is launching the first version of the VOP scheme rulebook developed to support payment service providers (PSPs) in the Single (..)

Payee 52

Payee Verification Instant Payments Legal 52

Finextra

AUGUST 27, 2024

In a move to help reduce scam losses and make Australia a harder place for scammers to operate, Westpac is extending its payee verification solution to institutional and government clients.

Payee 52

Payee Verification Government Governance 52

Finextra

JULY 16, 2024

Albert Sitelis, Head of Partnerships & Market Development at Banfico, discusses the hurdles of meeting the IP regulation compliance deadline for payee verification at EBAday 2024. With over 5000 PSPs in Europe, connectivity remains a major challenge, despite existing name check systems in several countries.

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Payee Verification Compliance Checks 52

The Paypers

MARCH 19, 2024

Europe-based Open Banking service provider LUXHUB has announced the launch of its Payee Verification Platform, aiming to simplify the implementation of the VoP mandate.

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Payee Verification Service Provider 41

Finextra

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.

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Payee Multi-Currency Verification Accounts 59

Finextra

JULY 1, 2024

EBA CLEARING announced today the publication of the user specifications for its Verification of Payee solution.

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Payee Verification 52

Fintech News

JUNE 4, 2024

Founded in 2021 by former Swift executives, iPiD offers advanced payee verification and identification solutions aimed at enhancing global payment security. Additionally, the funding will support the rollout of iPiD’s solutions in Europe, helping financial institutions comply with the upcoming Verification of Payee regulation by 2025.

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SWIFT Payee FinTech Verification 109

Fintech Finance

MAY 21, 2024

The deadline in Europe for Verification of Payee, based on the Instant Payment regulation, is October 2025. SurePay is the most trusted Confirmation of Payee (CoP) provider in the UK, and Verification of Payee (VoP) provider in Europe, and has facilitated over 7.5

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Payee Verification Regulatory Compliance Scams 52

The Paypers

JULY 1, 2024

The provider of payment infrastructure solutions EBA CLEARING has announced the publication of user specifications for its Verification of Payee service.

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Payee Verification Payments 45

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

The Fintech Times

MARCH 31, 2024

SurePay , the IBAN-name check provider, confirmation of payee (CoP) and verification of payee (VoP) to over 100 banks, has expanded its services following a strategic agreement with Swift , the messaging network, and the integration of Swift’s payment pre-validation service.

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Payee SWIFT Cross-Border Cross-Border Payments 59

Fintech Finance

DECEMBER 12, 2024

The new solution supports payment service providers (PSPs) in offering Verification of Payee services to their customers that fulfill the requirements of the Instant Payments Regulation (IPR) and of the VOP Scheme developed by the European Payments Council (EPC). EBA CLEARING today announced the launch of its SEPA-wide VOP solution.

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Payee Verification IBAN End User 75

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 News

MARCH 19, 2024

This service, known as confirmation of payee, is designed to minimise the risk of erroneous payments and bolster defenses against fraud. The company has already made strides in reducing friction in cross-border payments through account verification before transactions.

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SWIFT Payee Cross-Border Payments Scams 107

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.

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Payee Service Provider Verification Compliance 40

The Fintech Times

JUNE 8, 2024

Moneyhub , the UK-based data and payments platform, has launched its new account verification service, powered by open banking, to enable better payment security utilising bank-level security controls (including PSD2 SCA) and biometrics.

Verification 59

Verification Accounts Payment APIs and Integration Online and Mobile Banking 59

Fintech Finance

JUNE 18, 2024

The regulation mandates Verification of Payee (VoP) for cross-border payments within the Single European Payment Area (SEPA) by October 2025. Almost nine in ten expect to be impacted by the change, while 44% of respondents say the regulation will save their business money, and 27% think it will help improve their cashflow.

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Instant Payments SWIFT Cross-Border Payments Cross-Border 97

Fintech Finance

JUNE 7, 2024

Moneyhub , the market-leading data and payments platform, has today announced the introduction of its account verification service. Powered by Open Banking, Moneyhub Account Verification enables better payment security utilising bank level security controls (including PSD2 SCA) and biometrics.

Verification 52

Verification Accounts Payment APIs and Integration Online and Mobile Banking 52

Finextra

SEPTEMBER 24, 2024

CBI, a fintech serving as an industry utility with over 30 years of experience, that develops digital infrastructures and services for financial institutions (FIs) and payment service providers (PSPs) to enhance their transaction banking, open banking, and open finance offerings, has announced a strategic partnership with Banfico Ltd, a fintech company (..)

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Verification Payee Finance Service Provider 52

Finextra

OCTOBER 9, 2024

SEPAmail.eu and CBI joins their IBAN-Name Check expertise at the service of their respective communities in order to offer an interoperable solution to fight against fraud.

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IBAN Payee Interoperability Verification 64

Finextra

MAY 21, 2024

SurePay today announced that it has joined forces with FIS, making it easy for PSP’s in the partner ecosystem to access its CoP/VoP solution and comply with upcoming regulatory changes and start protecting their customers against fraud and friction.

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Payee Verification 52

Finextra

OCTOBER 22, 2024

In an interview with FinextraTV in the lead-up to Sibos 2024 in Beijing, China, Ainsley Ward, Vice President Payments Solutions, CGI, explores the topic of instant mandates and the implementation of Verification of Payee (VoP) across Europe.

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Real Time Payments Cross-Border ISO 20022 Payee 75

Fintech Finance

JUNE 5, 2024

Founded in 2021 by a team of former Swift executives, iPiD provides cutting-edge payee verification and identification solutions. These new funds will be utilized to accelerate the commercial roll-out of iPiD’s Verification of Payee solutions in Europe. Confirmation of Payee in the UK is a case in point.

Payee 52

Payee Verification Cross-Border IBAN 52

Fintech Finance

JUNE 10, 2024

Eastnets, a global leader in compliance and payment solutions, has announced a strategic partnership with iPiD , a leading provider of beneficiary name and bank account verification services. Instant payments – which are irrevocable – demand enhanced verification processes to protect against fraud.

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Payee Instant Payments Verification Payer 52

The Paypers

APRIL 20, 2023

Payment verification solutions provider SurePay has launched an online portal that enables UK-based banks and payment service providers (PSPs) to perform Confirmation of Payee checks.

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Payee Checks Verification Service Provider 36