EUROPE SOLUTIONS: VERIFICATION OF PAYEE (VoP)
Prevent Fraud Before Payments Are Sent
Verify payee details before a payment is processed with a fully managed Verification of Payee solution built for the SEPA ecosystem.
Form3 helps financial institutions comply with European Verification of Payee requirements while reducing fraud, meeting regulatory requirements and strengthening customer trust.
WHY FORM3
Stay Compliant with Confidence
The Instant Payment Regulation (IPR) mandates the adoption of Verification of Payee across Europe for credit transfers and instant payments. Meeting these requirements can be challenging, requiring new technology, operational processes, and ongoing scheme compliance.
Form3 simplifies implementation with a fully managed Verification of Payee service that provides connectivity, compliance, and ongoing scheme maintenance through a single API. Institutions can verify payee details in real time, ensuring compliance with European regulations and greater transparency for customers.
Effortless Compliance
Stay aligned with European Verification of Payee requirements through an EPC-compliant service with managed connectivity, ongoing scheme updates, and regulatory support.
Fraud Prevention & Payment Accuracy
Verify payee details before payments are sent using intelligent name matching designed to reduce fraud, prevent misdirected payments, and improve customer confidence.
Pan-European Reach Through a Single API
Access Verification of Payee services across the SEPA region through a single API, supporting both requester and responder use cases with flexible integration options.
Fully Managed, Cloud-Native Service
Reduce operational complexity with a secure, cloud-native platform supported by dedicated onboarding, incident management, testing environments, and ongoing maintenance.
HOW IT WORKS
Verification of Payee Service
Form3 supports both Requester and Responder Verification of Payee services through a single API-based platform.
Verification of Payee – Responder Service
Form3's Responder Service enables financial institutions to respond to incoming Verification of Payee requests through a single API integration.
Institutions maintain account information through Form3, while the platform manages request authentication, applies intelligent name matching, and returns verification responses on their behalf. Supporting natural persons, legal entities, omnibus accounts, and identification codes, the service helps deliver accurate matching results while providing notifications, suspicious activity monitoring, and reporting through a fully managed service.
Form3 also manages connectivity to the EPC Directory Service, helping institutions simplify compliance and maintain ongoing scheme connectivity.
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