Payee IDentification .png

Singapore, April 2023
: iPiD Releases New Whitepaper on How Payee Identification is changing the international payments battlefield.

A new whitepaper released by iPiD examines the challenges customers and financial institutions face with a critical step in the payment experience: the identification of a payees and their banking details.

Learning from the successes of domestic payee identification methods, we illustrate the need for global interoperability and explain how iPiD’s Validate API enhances the cross-border payment experience, offering increased certainty in an otherwise complex process through real-time payee validation.

  1. The increasing demand for enhanced user experience and the expansion of the digitized payment landscape, encompassing cross-border transactions.

  2. The opportunity to improve fraud prevention providing reassurance to payers.

  3. The lack of name matching in current payment experiences and the growing necessity for robust validation measures due to the prevalence of Authorised Push Payments (APP) scams and fraud.

  4. The regulatory push across the world mandating real-time payee validation.

  5. The examination of various domestic payee identification methods, their merits, and a deep dive on the Confirmation of Payee scheme in the United Kingdom.

  6. The need and challenges associated with cross-border implementations.

  7. The benefits of a comprehensive solution like iPiD’s Validate that consolidates disparate payee identification schemes into a cohesive system for cross-border payments.


IPiD’s Validate is an innovative API solution that interconnects local payee identification schemes and seamlessly integrates with financial institutions’ existing systems to revolutionize the cross-border payment experience. With Validate, banks and fintech can offer an instant payee verification and display a green tick that significantly increases the payer’s confidence to proceed with the transaction.

In summary, the white paper presents an incisive examination of the challenges and requirements in cross-border payments and payee identification. We encourage you to delve into the document, where you will uncover how you can reduce drop-out rate, prevent misdirected payments, and reduce fraud risks in your cross-border payment business.


About iPiD

iPiD is a fast-growing, venture-backed fintech start-up that was founded in late 2021 by a global team who have held senior roles at major payments and technology companies, including SWIFT and Thomson Reuters.  In addition to our HQ in Singapore, our global team has representatives in India, Belgium, Malaysia, Netherlands, South Africa, Spain, and Vietnam.


iPiD’s vision is to make cross-border payments easy, secure, and seamless.

We achieve this by partnering with financial services providers (banks, payment systems, payment fintechs, wallets…) to deliver an addressing data platform that helps the payment industry to provide a more efficient and user-friendly payment journey.

iPiD is built for all – we do not replace banks, payment fintechs, wallets or remittance companies; nor do we replace existing payment rails.


Our Advisory Board includes senior figures from across the industry: Christian Sarafidis, Microsoft Chief Business Development Officer WWFSI; Kosta Peric, Deputy Director, Financial Services for the Poor, the Bill & Melinda Gates Foundation; and Nick Lewins, former banking Chief Technology Officer and now an advisor in data and AI, cloud technology and digital transformation.

Press Contact
[email protected]