Verification of Payee

Verification of Payee (VoP) solution for PSPs, enabling seamless integration and compliance with EU regulations.

Verification of Payee What It Is and Why It Matters?

EU Regulation: Starting October 9, 2025, Payment Service Providers (PSPs) must implement Verification of Payee (VoP) to match the payee’s name with the IBAN before processing payments (Article 5c).

Benefits of Verification of Payee (VoP):

Reduces Misdirected Payments
Prevent Authorized Pushed Payment (APP) fraud
Enhances trust in the security and accuracy of payments across Europe
Promotes a Standardized Verification Framework
Reduces disputes and increases reliability for both individuals and businesses

VoP Verification via RVM

The Verification of Payee (VoP) process involves two primary actors: the Requesting PSP (Payment Service Provider) and the Responding PSP. Using Inventi’s Routing Verification Mechanism (RVM), the Requesting PSP initiates a VoP verification request, which is routed to the correct Responding PSP through the EDS Directory provided by the European Payment Council (EPC). The Responding PSP then provides the verification response using Inventi RVM. As a registered VoP provider in the EPC Directory, Inventi RVM ensures secure and efficient handling of both outgoing and incoming requests within the VoP network.

Inventi VoP Solution

Key Features:

Outgoing and Incoming Request Handling: Efficient processing of VoP requests in both directions.
Powerful AI Name Matching: Advanced algorithms for accurate name matching and verification.
Autonomous VoP Response: Fully automated responses to incoming VoP requests.
Single and Batch Processing: Handles both individual and bulk requests seamlessly.
Flexible Data Import: Supports data integration through files or APIs.
VoP Comprehensive Retrospective History: Maintains detailed records of all verification activities.
Reporting and Statistics: Capability to generate detailed verification insights.

Services

Verification of Payee