Implement VoP with our integration services
New: What is VoP and why it matters
As SEPA Instant Payments (SCT Inst) become mandatory under EU Regulation 2024/886, security is moving into the spotlight. Verification of Payee (VoP) adds a critical fraud-prevention layer by checking if the payee’s name matches the IBAN before a payment is made – especially important for instant euro transfers 24/7.
Starting October 9, VoP will be a required component for PSPs supporting SEPA Instant. From payment fraud reduction to regulatory compliance, understanding VoP now is essential for banks, fintechs, and corporates operating across Europe.
Read our blog post on Verification of Payee to learn what it means, how it works, and how to prepare for the upcoming deadline.
Benefits of the Verification of Payee solution
- Helps make sure payments go to the right person.
- Supports a standard way to verify account details (payee name check).
- Adds a layer of protection against payment scams (APP fraud).
- Lowers the chance of payment disputes across Europe.
FAQ
How to implement Verification of Payee step-by-step?
We start with a system audit, design workflows, implement the VoP API, test the solution, and assist with go-live.
What is an IBAN name check and why is it mandatory in 2025?
It’s a real-time match between the entered name and the account’s IBAN. It becomes mandatory from 9 October 2025 under EU Regulation 2024/886.
When must Lithuanian PSPs comply with VoP under 2024/886?
By 9 October 2025, all PSPs in Lithuania must integrate VoP for instant payment transactions.
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