European Union

Comply to
Verification of Payee

Stay ahead of EU regulations and secure your payments.

Verification of Payee (VoP) ensures secure and accurate transactions across Europe, reducing fraud risks and enhancing trust in digital payments.

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Countdown to Compliance: October 2025

By October 9, 2025, all Payment Service Providers (PSPs) facilitating SEPA instant and non-instant credit transfers in the eurozone must verify recipients' account details before processing payments to enhance security and prevent fraud.

The European Payments Council (EPC) in their VoP scheme require that PSPs implement Requestor-Responder Routing and Verification Mechanisms (RVM) to support seamless payee validation across Europe.

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Understanding VoP

A key requirement under the EU’s Instant Payments Regulation.

What is VoP?

Verification of Payee (VoP) is Europe’s version of Know Your Payee (KYP)—a fraud prevention measure that ensures payment details are validated before processing. It helps reduce misdirected payments, fraud, and chargebacks.

Part of EU’s Instant Payments Regulation

The European Instant Payments Regulation mandates that all PSPs must verify account details before processing SEPA credit transfers.

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The Role of PSPs in VoP Compliance

A seamless verification experience for customers, without additional complexity.

Mandatory verification for EU-based transactions

All PSPs offering payment services in Euro must verify payee details before executing a transaction, across all channels, including corporate and bulk payments.

Frictionless payment experience

VoP compliance is more than a regulatory requirement—it ensures smooth, error-free transactions for customers and businesses.

Your trusted VoP provider

Your trusted Requestor-Responder Routing and Verification Mechanism (RVM) provider without the need for complex in-house development.

Bridging PSPs and schemes

As an official RVM for the EU VoP mandate, iPiD connects banks, payment providers, and schemes to streamline compliance.

Real-time matching algorithm with iPiD Match
(powered by Microsoft Azure OpenAI)

Accurately verifies recipient details before transactions, reducing fraud and ensuring compliance.

Advanced features

Includes VoP auditing, bulk file management, multiple channel support, agent/delegate authority and seamless integration for financial institutions.

Reliable, secure and cost-effective transactions, every time

Comply
‍globally

Meet regulatory requirements seamlessly with real-time payee verification, ensuring transactions align with EU, UK, and international compliance frameworks.

Reduce
‍fraud

Protect payments from unauthorised transfers. Our verification solutions prevent misdirected funds and help financial institutions combat rising scams—projected to exceed $7.6 billion by 2028.

Lower
‍costs

Avoid costly delays, rejections, and failed payments caused by incorrect account details. Real-time validation ensures that every payment reaches the right recipient, the first time.

FAQs

What is Verification of Payee (VoP)?

Verification of Payee (VoP) ensures that the name on a recipient’s account matches the name entered by the payer before completing a transaction, reducing fraud and payment errors.

Is Verification of Payee (VoP) mandatory for financial institutions?

In the EU, VoP compliance is a requirement under new regulatory frameworks (specifically the Instant Payments Regulation (EU) 2024/886) aimed at preventing fraud.

How does VoP affect my organisation?

Compliance to Verification of Payee (VoP) reduces the risk of fraud and misdirected funds, ensuring that transactions are accurate and secure—ultimately protecting your reputation and financial assets. Specifically, VoP requires an account name match and a return response of Match, Partial Match, No Match.

Who is the European Payments Council (EPC)?

EPC is a key organisation that establishes standards for secure payment processing across Europe. EPC guidelines play a crucial role in shaping robust VoP protocols, ensuring that payee verification processes are both reliable and effective. It also manages the most prevalent payment scheme in Europe known as SEPA. There are two versions of SEPA payments - often referred to as SEPA Classic and SEPA Instant. All credit transfers in the SEPA scheme must be adherent to the VoP scheme.

Is iPiD a recognised Routing & Verification Mechanism (RVM)?

Yes, iPiD is a recognised RVM. We are listed on the EPC’s roster of RVMs, affirming our commitment to maintaining the highest standards in payee verification.

Can Verification of Payee (VoP) be used for cross-border payments?

Yes. Our VoP solution is built to work seamlessly for both domestic and international transactions. Leveraging iPiD’s extensive global network, VoP ensures that every payment is verified against the highest security and compliance standards, regardless of where it originates.

When is the deadline for Verification of Payee (VoP) compliance?

By 9 October 2025, all PSPs offering SEPA payments must implement VoP services to verify payee details before processing credit transfers. This requirement aims to reduce fraud, enhance payment accuracy, and strengthen financial security across Europe.

Financial institutions should begin preparations early by assessing their systems, integrating necessary VoP solutions, and ensuring compliance readiness before the deadline.

Comply to Verification of Payee