Verification of Payee (VoP)

Published 8 months ago • 1 min read

Verification of Payee (VoP)

The European Commission has announced that a Verification of Payee (VoP) solution needs to be adopted by banks Europe-wide, as part of the Instant Payments legislation.
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This ensures that instant payments in euro are affordable, secure, and processed without hindrance across the EU.

How does VoP work?

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When making a transfer online, Verifcation of Payee verifies the entered account details of the beneficiary prior to the actual transfer.

European Verification of Payee

To find out more download the European Verification of Payee Brochure from SurePay here.​

Payments Explained

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The European Commission has announced that a Verification of Payee (VoP) solution needs to be adopted by banks Europe-wide, as part of the Instant Payments legislation. This ensures that instant payments in euro are affordable, secure, and processed without hindrance across the EU. Explore VoP with Payments:Unpacked