White paper

Connecting Europe through Verification of Payee
The European financial landscape is preparing for significant change. The European Regulation on Instant Payments, or IPR, introduces a core Verification of Payee (VoP) requirement, mandating that EU Payment Service Providers (PSPs) implement VoP capabilities by October 9, 2025. For non-Euro countries, the implementation date is July 9, 2027.

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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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Our white paper provides a comprehensive overview of the necessary steps to take before the October 2025 deadline and offers guidance on achieving seamless integration and compliance with IPR.

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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.