VoP Service
Enterprise Verification of Payee Platform
In an era of total digitalisation and ever-tightening payment security requirements, banks and payment service providers need innovative solutions that simultaneously deliver efficiency, transparency, and fraud prevention. VoP Service takes Verification of Payee (VoP) to the next level and delivers a fully ready-to-use platform for payee verification within the SEPA standard. Built as a 100 % automated, bank-grade solution specifically for financial institutions, VoP Service combines maximum payment security with record-fast integration and guaranteed compliance with all European regulatory requirements.
What is Verification of Payee
A real-time check before every outgoing payment: does the entered name actually belong to this IBAN? The answer is returned in under 3 seconds (EPC requirement) with one of three results: MATCH, CLOSE_MATCH, or NO_MATCH. This dramatically reduces APP fraud, misdirected payments, and chargebacks.
Why banks choose VoP Service
Production deployment in 2–4 weeks (instead of 6–12 months)
100 % pass rate on all 131+ official EPC test cases
Real-world average response time — 0.84 seconds
Fully ready for 9 January and 9 October 2025 regulatory deadlines
Covers every required scenario: incoming/outgoing requests, internal transfers, corporate batch verification via EBICS
Multi-bank architecture and any deployment option (public cloud, private cloud, on-premise)
Intelligent Matching Engine
More than 12 proven algorithms (Levenshtein, Jaro-Winkler, phonetic codecs, n-gram and token matching) work together with automatic normalisation, transliteration, and abbreviation expansion. Full support for Cyrillic, Greek, Arabic transliteration, and all European special characters. In addition to classic IBAN + Name verification, LEI, VAT ID, national identifiers, and BIC are supported.
Bank-Grade Security
TLS 1.3+ with mutual authentication, PKI infrastructure, QWAC certificates, full EPC164-22 v2.0 compliance, and inclusion in the EPC Directory Service (EDS). End-to-end encryption — no storage of personal data.
Seamless Integration
Clean REST API with ready OpenAPI specification, full test sandbox containing all 131 EPC scenarios, Postman collection, and SDKs for Java, Python, and Node.js.
Results achieved in 2025
28 banks and payment institutions connected in the first 6 months
System availability > 99.99 %
Estimated fraud reduction for clients > €27 million per year
Every client went live 3–6 months ahead of the mandatory deadline
Future-Proof
The platform is already prepared for the next phases of instant payment regulation and the onboarding of new countries into the EPC VoP scheme.
VoP Service is more than just regulatory compliance — it is a strategic tool for fraud reduction, building customer trust, and cutting operational costs.
