White paper
Connecting the globe through Verification Of Payee
- October 2025
- Estimated reading time: 15 min.
The European financial landscape has entered a new era of instant, secure payments.
Under the European Regulation on Instant Payments (IPR), Verification Of Payee (VOP) is now a mandatory requirement for all EU Payment Service Providers (PSPs) as of October 9, 2025.
For non-euro countries, the next milestone is July 2027, when VOP will also become mandatory. Extending trusted, real-time payments across all of Europe.
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What you'll learn
The steps you need to take as a Bank or PSP to become compliant with IPR
The significance of the four potential outcomes of the Verification Of Payee Check.
Steps to follow for banks or PSPs to respond to VOP requests
The actions required for a bank or PSP to send VOP requests
What banks or PSPs must do to carry out bulk VOP checks
The ideal time to begin implementation is now, to ensure compliance with the October 2025 deadline.
Overview
This white paper explores the key aspects of the VOP regulation, including the scope, deadlines for implementation, and implications for banks. It also details the functionalities PSPs must have in place – such as the ability to query account holder data, implement name-matching algorithms, and ensuring compliance with GDPR – while addressing the technical challenges associated with both single and bulk payment verifications.
It's time to act now
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We’d love to schedule a demo where we can walk you through our solution, answer any questions you might have, and provide a clear overview of what our implementation process looks like.