Glossary
Verification of Payee (VoP)
The mandatory SEPA name-IBAN match: before a credit transfer, the payer's PSP checks that the payee name matches the account - EU-wide from October 2025.
The EU Instant Payments Regulation makes VoP mandatory for PSPs executing SEPA credit transfers: the payer sees a match / close-match / no-match result before confirming. It is Europe's systemic answer to misdirected payments and authorised push-payment fraud.
Most PSPs buy the matching engine and the EPC-scheme connectivity from specialists rather than build it - a brand-new infrastructure category that Fintechnologica tracks from its inception.