IFX Payments selects Form3 for Verification of Payee solution ahead of Instant Payments Regulation mandate

Ahead of the Verification of Payee (VoP) scheme going live in October 2025, implemented by The European Payments Council, IFX Payments will now be able to verify payees before payments are executed.  

The VoP scheme is designed to reduce fraud and payment errors by verifying that the payee's name matches their PSP's records for the given IBAN. This occurs before the payment is executed, providing additional assurance that the funds are being sent to the correct account holder.

Form3’s solution will ensure that IFX Payments is compliant with the Instant Payments Regulation for its SEPA Credit Transfer and SEPA Instant Payments, offering its customers enhanced protection against authorised push payment (APP) fraud and payment errors.

The Form3 VoP solution is underpinned by a single API designed to integrate seamlessly into existing infrastructure, allowing customers to meet regulatory requirements while focusing on growth, to improve the overall customer experience.

The solution has been designed with compliance in mind for customers. Form3’s fully managed service delivers compliance with regulations such as IPR and PSD3. A key selling point is that Form3 provides rolling scheme updates - without service interruption. 

Today’s announcement marks the third Form3 product that IFX Payments has adopted, having previously integrated Confirmation of Payee (CoP) and SEPA Credit Transfer into its customer offering. 

Rosie McConnell, Product Director, IFX Payments, comments: “We chose Form3’s VoP solution because of its seamless fit with our existing compliance infrastructure. Having a dedicated onboarding team has been invaluable, allowing us to continue focusing on what matters most: delivering a secure, reliable, and fully compliant payment experience for our customers. We’re happy to be building on our partnership with Form3.” 

About Form3

Form3 is the account-to-account platform. Founded in 2016, Form3 set out to revolutionise the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform. Today, Form3 is trusted by some of the UK’s and Europe’s biggest Tier1 banks and fastest-growing fintechs to handle their critical payments architecture. Form3 recently won the Best Technology Integration Award, in partnership with Nationwide, at the Card and Payments Awards 2025. The company has been included in the 2024 Lazard T100 Index and was listed in the 2024 Top 100 Scale-ups in Europe. The company has also been awarded PayTech of the Year, Team of the Year for Form3’s Engineering Team at the UK Fintech Awards 2024, Team of the Year at the Paytech Awards 2024, and Engineering Team of the Year at the Europe Fintech Awards 2024. 

About IFX

IFX Payments is an award winning service-led alternative banking partner delivering value beyond the transaction. The company is dedicated to building an accessible, frictionless, and complete digital payments experience that simplifies complex treasury processes, allowing businesses to focus on what truly matters. With offices in London, Amersham, Warsaw, and Dubai, IFX Payments has grown to a team of over 200 professionals worldwide. At its core, IFX Payments specialises in managing FX and payments for corporate businesses with extensive cross-border reconciliation and payment needs.