Europe's Leading Verification of Payee Provider
- Comply with Instant Payments Legislation & PSD3
- Connect the world with our Swift service
- Offered both cross border and domestic
- Prevent APP fraud & lower operational costs
Europe's Leading Verification of Payee Provider with 100% Reach Across 38 Countries.
Trusted by Top Banks and SWIFT for Seamless Cross-Border Payment Verification.
Preventing Fraud for Over 170 Million Accounts Across Europe and Beyond.
The Verification Provider Backed by Rabobank Innovation and Global Partnerships.
Proven to Cut Payment Fraud by 81% for Leading European Financial Institutions.
SurePay offers trusted Verification of Payee solutions, protecting 170M+ accounts across 38 countries. Trusted by leading banks and organizations across Europe to secure payments and prevent fraud.
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Verification of Payee for European Banks
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European Batch Check
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SWIFT Beneficiary Account Verification
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Fraud Risk Indicator
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IBAN-Name Check Portal for Organisations
Check payments details of your customers (KYC) new employees (KYE) and suppliers (KYS) directly online via our IBAN-Name Check Portal.
Confirmation of Payee (UK)
Our solution for Payment Service Providers in the UK enables PSPs to offer Pay.UK’s Confirmation of Payee.
Our solutions
Verification of Payee for European Banks
Read more →
European Batch Check
Read More →
SWIFT Beneficiary Account Verification
Read More →
Fraud Risk Indicator
Read more →
IBAN-Name Check Portal for Organisations
Check payments details of your customers (KYC) new employees (KYE) and suppliers (KYS) directly online via our IBAN-Name Check Portal.
Confirmation of Payee (UK)
Our solution for Payment Service Providers in the UK enables PSPs to offer Pay.UK’s Confirmation of Payee.
Comply with the Instant Payments Regulation
The clock is ticking…
Banks will be mandated to implement Verification of Payee.
By implementing our European Verification of Payee Solution, your customers receive a notification when IBAN and name do not match. With our solution you:
- Prevent (inter)national payment fraud
- Prevent misdirected payments
- Reduce operational costs & reimbursements significantly
Frequently asked questions
On the bank’s side, there are two important things to consider.
First of all, the API that allows for Account Name Verification has to be integrated into your online banking environment.
Secondly, data provisioning has to be taken care of. This concerns the provisioning of customer data by your bank to SurePay so that SurePay’s algorithm can match the payment data to your bank’s customer data. Further information on required implementation efforts can be found in the sample Implementation Plan
When making a transfer online, Verification of Payee, the IBAN-Name Check and the SurePay Confirmation of Payee verify entered account details of the beneficiary prior to the actual transfer. The verification is based on the unique combination of the account holder’s name information beloning to a specific account number. The payer’s bank sends the entered account name and number to SurePay, which in turn verifies the details against the available data in order to provides a response. Should entered details be incorrect (i.e. the beneficiary name does not match with the names known at the bank for this account number), then the payment initiator will get a notification. The payer might be at risk of payment fraud or possibly has made a mistake.
Verification of Payee is tailored for the EU market and the SurePay Confirmation of Payee adheres to UK market requirements, rules and regulations.
Should entered account details match the information known at the bank for the relevant account number, generally no notifications are prompted. When this is not the case, you can distinguish three main types of notifications:
Warning
When the entered name does not match with the account information known at the relevant bank by any means – for instance ‘D. Williams’ instead of ‘K. James’ – a warning notification is prompted. Please be aware that you might be subject to a scam, fraud or may have made a mistake. The notification will tell you that the account holder is registered under a different name at the relevant bank. Consider alternative measures or get in touch with the beneficiary before proceeding to transfer any funds.
Name Suggestion
In case of minor errors, such as a typo, you will be prompted with a suggested name as registered at the relevant bank. For instance, ‘Williams’ instead of ‘Wiliams’. Please check whether the suggested name belongs to the person/company you are intending to transfer funds to.
Service Not Available
SurePay verifies account numbers and their information across its base. In case SurePay is not able to verify account details against an account number, you will be notified as well. This can, for instance, occur for foreign bank accounts numbers for which SurePay may have insufficient information available.
No, you don’t. SurePay’s Verification of Payee service is not a separate app, nor programme. Your own bank can opt to integrate SurePay’s Account Name Verification service in its online environment, and make it available to you. The service generally works for online transfers and is commonly made available through a regular banking application.
Currently, SurePay’s services are available to customers of 100+ EU banks.
At the moment, SurePay’s service is exclusively available to customers of 100+ Dutch, UK, French and Italian banks:
Businesses and organisations can also implement the Verification of Payee in their own business processes and systems, regardless of what bank they use.
Belgian Banks Choose SurePay as Verification of Payee preferred scheme vendor
We are on a mission to protect both our clients and their customers against the growing threat of payment fraud worldwide, both cross-border and multi-domestic.
– David-Jan Janse, CEO SurePay