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 - in the euro area since 9 October 2025 and in the rest of the EU from 9 July 2027.
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.
Primary source: Regulation (EU) 2024/886 (Instant Payments Regulation) · EPC Verification of Payee scheme rulebook
In the verified data
- 4 live VoP specialists are profiled: Banfico (UK); LUXHUB (Luxembourg); SurePay (Netherlands, owned by FIS); Trustpair (France).
- 1 of them sits under a US parent - a mandatory EU anti-fraud check whose matching engine can be US-controlled; see who owns Europe's fintech infrastructure.
- Deadlines under the Instant Payments Regulation: payment service providers in the euro area since 9 October 2025, those in the other EU member states from 9 July 2027.
Recomputed from the catalogue and the official EBA, ESMA and FCA registers on every build — how we verify.
Questions to ask a provider
- Are you connected to the EPC Verification of Payee scheme, and which countries' PSPs can you match against?
- How do you handle close matches, and what response times do you commit to for instant payments?
- Do you also cover UK Confirmation of Payee?