Verification of Payee (VoP)

Verification of Payee (VoP) is a service designed to enhance payment security across the Single Euro Payments Area (SEPA). By allowing the payer’s PSP to verify if the International Bank Account Number (IBAN) and payee name match the records held by the payee’s PSP, VoP aims to minimise payment fraud and misdirected transactions. This service, mandated by the EU Instant Payments Regulation (IPR), is essential for both standard and instant euro credit transfers.

The Verification of Payee (VoP) mandate is a regulatory requirement that requires Payment Service Providers (PSPs) to verify a payee’s name and account information before a payment is processed.

Starting October 5, 2025, all European PSPs that provide SEPA payments must offer VoP to their customers.

The VoP mandate has been inspired by the UK’s Confirmation of Payee (COP).