Your trusted VoP provider
Your trusted Requestor-Responder Routing and Verification Mechanism (RVM) provider without the need for complex in-house development.
A key requirement under the EU’s Instant Payments Regulation.
What is VoP? (VoP meaning)
Verification of Payee (VoP) is Europe’s version of Know Your Payee (KYP)—a payment verification measure designed to confirm recipient details before a payment is processed. By matching the payee’s name with their bank account number, VoP significantly reduces fraud, misdirected payments, and chargebacks.
VoP is not the same as proof of payment, which is evidence that a payment has been made. Instead, VoP ensures that the intended payee is correct before any money moves—bridging the gap between payer vs payee in digital transactions.
Part of EU’s Instant Payments Regulation
Under the latest regulation, all Payment Service Providers (PSPs) in the EU must implement payment verification checks to validate payee details before processing SEPA credit transfers.
A seamless verification experience for customers, without additional complexity.
As a central RVM for the EU VoP mandate, iPiD acts as a bridge between PSPs and schemes.
Real-time matching of account details
Auditing VoP checks and bulk file management
Your trusted Requestor-Responder Routing and Verification Mechanism (RVM) provider without the need for complex in-house development.
Meet regulatory requirements seamlessly with real-time payee verification, ensuring transactions align with EU, UK, and international compliance frameworks.
Protect payments from unauthorised transfers with real-time ID fraud checks and bank account verification. Our verification solutions prevent misdirected funds and help financial institutions combat rising scams—projected to exceed $7.6 billion by 2028.
Avoid fees from failed payments or rejections—bank account verification ensures success the first time.
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.
In the EU, VoP compliance is a requirement under new regulatory frameworks (specifically the Instant Payments Regulation (EU) 2024/886) aimed at preventing fraud.
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.
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.
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.
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.
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.
