United Kingdom

Comply to
Confirmation of Payee

People walking on the streets in London

Protect your customers, prevent fraud, and comply with UK regulations.

As fraud and misdirected payments continue to rise, financial institutions and payment service providers (PSPs) must ensure transactions reach the intended recipients. Confirmation of Payee (CoP) strengthens payment security by verifying recipient details before transactions are processed.

Understanding CoP

CoP is the UK's regulatory framework for ensuring payee details are validated before transactions are processed.

Why does CoP matter?

As fraud tactics become more sophisticated, traditional security measures are no longer sufficient. Fraudsters frequently deceive payers into transferring money to the wrong accounts, leading to financial losses and disputes. CoP helps mitigate these risks by ensuring real-time validation of recipient details, reducing fraud-related errors.

The impact of CoP on fraud prevention

Authorised Push Payment (APP) fraud prevention – Fraudsters often trick individuals and businesses into making payments to fraudulent accounts. CoP acts as a safeguard by verifying recipient details before the transaction occurs.

Reduction in misdirected payments – Even genuine errors, such as mistyping an account number, can lead to funds being sent to the wrong person. CoP minimizes these risks by ensuring accurate payment details.

Greater consumer trust – By providing transparency in digital transactions, CoP reassures customers that their payments are protected, encouraging confidence in online and mobile banking.

CoP and the UK regulatory landscape

CoP is a key initiative under the UK Payment Systems Regulator (PSR), which mandates enhanced security and fraud prevention measures across financial institutions. The framework ensures that payment service providers (PSPs) and banks verify payee details before processing transactions, helping to combat fraud and misdirected payments.

By working alongside regulators and financial institutions, Pay.UK is instrumental in making CoP a core component of the UK’s payment security framework, helping to safeguard digital transactions against fraud while improving consumer trust.

Your trusted aggregator - iPiD

iPiD is an authorised aggregator by Pay.UK. We facilitate seamless compliance for banks and PSPs without the need for complex in-house development.

A seamless compliance solution

iPiD enables financial institutions to connect and conduct CoP checks efficiently.

Flexible and scalable integration

Our solution covers both sender and responder frameworks, ensuring broad compatibility.

Enhancing trust in payments

By verifying recipient details in real-time, we help banks and PSPs reduce fraud risks and improve transaction accuracy.

An asterisk that looks like a component of the UK flag, indicating iPiD as a spotlight within UK CoP

Reliable, secure and cost-effective transactions, every time

Confirm
in the UK

Meet regulatory requirements seamlessly with real-time payee confirmation, 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 Confirmation of Payee (CoP)?

Confirmation of Payee (CoP) UK is a mandatory security feature that confirms whether the name entered for a transaction matches the account holder’s details before completing the payment. All UK PSPs are required to adhere to CoP.

Is iPiD a recognised aggregator?

Yes, iPiD is a recognised aggregator within the CoP space. You can learn more about it here.

What does Pay.UK do?

Pay.UK is the leading payments authority in the United Kingdom, overseeing the nation’s payment systems and setting critical standards for operational excellence and compliance. Their benchmarks ensure that CoP processes are robust, secure, and aligned with industry best practices.

Why is CoP important?

Confirmation of Payee (CoP) enhances payment security, reduces fraud, and ensures regulatory compliance. By verifying recipient details before transactions, it prevents APP fraud and misdirected payments, lowering disputes and operational costs. Mandatory in markets like the UK, CoP fosters trust, improves accuracy, and strengthens financial systems for safer, more reliable transactions.

What types of payments does CoP apply to?

Our CoP framework covers all credit transfers in the UK including personal and business payments. Additionally, our global Know Your Payee (KYP) solutions cover cross-border payments with 85% of the world's banked population. Every payment is subject to rigorous compliance standards and operational performance metrics, ensuring consistent security and efficiency

Can I use CoP for business accounts?

Yes. CoP is fully applicable to business accounts of all sizes. Whether you’re processing high-volume transactions or routine payments, our framework ensures that your business operations remain secure, compliant, and optimised for performance.

Can CoP be used for cross-border payments?

Absolutely. iPiD’s Know Your Payee (KYP) framework is engineered to support both domestic and international payments. By aligning with CoP's regulatory standards, iPiD ensures that your cross-border transactions remain operationally efficient.

What is the UK's liability regime for fraudulent payments?

Payment service providers (PSPs), including banks and other payment firms, are now legally obligated to reimburse customers who fall victim to APP fraud in most cases.