VOP

Enhance payment security across the SEPA area with Verification of Payee

Our Verification of payee solution matches payee details before payments are processed, preventing fraud and misdirected transactions while simplifying regulatory compliance across Europe.

The future of payment verification

The European Commission’s 2024 update to the Instant Payment Regulation (IPR) paves the way for widespread adoption of Instant Payments and Verification of Payee across Europe by 2025. Under the IPR, PSPs must verify a payee’s name and account details before processing any payment.

Revolutionising payment security  

We simplify compliance and security for financial institutions. Our API-first VOP solution integrates seamlessly into your existing infrastructure, allowing you to meet regulatory requirements while focusing on growth and innovation.  

Rising fraud and complex compliance  

VoP aims to minimise payment fraud and misdirected payments by enabling the payer to verify if the IBAN and payee name match with the account details held by the payee’s PSP. While the benefits are clear - reduced fraud and enhanced security - the journey to compliance can be complex.  

Key challenges PSP's face

Implementing VOP isn't without its challenges, from ensuring compliance with the regulation to managing integration costs. These challenges are exactly what the Form3 VOP solution is designed to solve.  

01

Approaching deadlines

PSP based in the Euro area have until October 5th to comply with the regulation 

02

Future compliance

Navigating the evolving compliance landscape now and in the future 

03

Implementation

Designing and building a VOP service with an intuitive customer experience in your payment journeys 

04

Testing and certification

Integration into EBA-Clearing and or EPC services

Verification of Payee Service Diagram

Why choose our VOP solution? 

Our best in class service offers the following benefits: 

Ready to secure your payments future?

The payments landscape is evolving rapidly and compliance with VOP regulations is essential to stay ahead. The Form3 VOP solution offers financial institutions a way to enhance security, reduce fraud and meet regulatory deadlines without the operational burden. Reach out to our team to find the right solution for your institution.