Put simply, Verification Of Payee (VOP) is an important tool in reducing fraud. With Authorised Push Payment (APP) fraud accelerating globally, VOP helps to reduce the risk of fraud and misdirected payments by checking that the account information entered for a payee matches the information held by the payee’s bank. This is done by providing a ‘match’, ‘no match’ or ‘close match’ response. A ‘no match’ or ‘close match’ response can then help the payer decide if it is safe to proceed with the payment.
We’re experts in providing open API solutions around the world, and we simplify the complex. The Ozone API platform provides everything that banks and payment institutions need to deliver Verification Of Payee (VOP) and meet regulatory requirements. With quick and simple integration, driven by your timescales.
What is Verification Of Payee?
Match
Close Match
No Match
Following recent regulation, it is now mandatory for any bank or Payment Service Provider (PSP) that offers instant payment or credit transfers within SEPA to implement VOP.
VOP is a new scheme created by the European Payments Council (EPC), providing a single set of rules, practices and standards for implementation.
With a rapidly approaching deadline, Ozone API has everything you need to quickly, and simply implement VOP.
Countdown to compliance
The countdown for PSPs to implement Verification Of Payee has already started.
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What do I need to comply?
Banks and PSPs must implement VOP by the 9th October 2025. This means they need to be able to send VOP requests as well as respond to VOP requests from other PSPs, for both individuals and businesses. They must be able to verify a combination of information attributes as provided by a payer.
Those information attributes can be either:
- The name of the party to be paid, together with the Payment Account Number of the payee
- The payment account number of the payee, together with the identifier code of the party to be paid (such as the LEI number)
A ‘match’, ‘no match’, ‘close match’, or ‘not applicable’ response must be provided.
Why choose Ozone API for Verification Of Payee?
Ozone API delivers open APIs for banks and financial institutions around the world, for open banking, open finance, and Verification Of Payee. Our market-leading platform is trusted by central banks, major global banks, and financial institutions of all sizes. We are certified to the highest security standards. Whether it is complying with VOP, implementing the latest open banking API standards, or a combination of both, we provide everything you need for a quick and simple delivery.
Seamless compliance and trusted expertise
We have the deepest global expertise helping regulators and financial institutions with API compliance. We have designed, and power, Confirmation of Payee schemes at nation scale.
Frictionless integration, to your timescales
Fast and simple integration. Designed for rapid deployment of VOP and open banking APIs, flexible to your timescales.
Cost optimisation
Optimised for efficiency, with a simple and transparent pricing model, our platform handles the complexity of delivering VOP, significantly reducing operational overheads.
Secure and scaleable
Our award-winning platform provides standards-compliant open APIs, helping banks and financial institutions meet their regulatory requirements around the world. Whether it is VOP or open banking, with ongoing updates included as standard, we ensure you are future-proofed as regulations evolve. Proven to meet the highest security, compliance and performance standards.
Simplify the complex
We’re experts in this space so that you don’t have to be. Our comprehensive and flexible platform provides you with tools to deliver both a regulatory-compliant VOP solution, and market-leading open banking capability.
Seamless compliance and trusted expertise
We have the deepest global expertise helping regulators and financial institutions with API compliance. We have designed, and power, Confirmation of Payee schemes at nation scale.
Frictionless integration, to your timescales
Fast and simple integration. Designed for rapid deployment of VOP and open banking APIs, flexible to your timescales.
Cost optimisation
Optimised for efficiency, with a simple and transparent pricing model, our platform handles the complexity of delivering VOP, significantly reducing operational overheads.
Secure and scaleable
Our award-winning platform provides standards-compliant open APIs, helping banks and financial institutions meet their regulatory requirements around the world. Whether it is VOP or open banking, with ongoing updates included as standard, we ensure you are future-proofed as regulations evolve. Proven to meet the highest security, compliance and performance standards.
Simplify the complex
We’re experts in this space so that you don’t have to be. Our comprehensive and flexible platform provides you with tools to deliver both a regulatory-compliant VOP solution, and market-leading open banking capability.
Want to know more?
The Ozone API platform includes everything you need to deliver a standard-compliant VOP solution with ongoing updates as regulation evolves.
The core components that deliver compliance, and easy management tools include:
Ozone Connect
Simple and fast integration with any banking technology stack
Ozone Verify
Automatic validation of whether a PSP is authorised to perform a VOP check based on EDS integration
Ozone Admin Portal
Comprehensive reporting suite to help you meet regulatory requirements on monitoring the performance of the VOP solution
Delivering compliance, seamlessly
Acting as an RVM (Routing and/or Verification Mechanism) Ozone API takes away all of the headaches, and provides the entire end-to-end Verification Of Payee solution, including being a direct scheme participant on your behalf.
What Ozone API manages
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Dedicated access to the EPC VOP Directory Service (EDS) via APIs
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Self-certification conformance to the EPC technical specifications via use of the VOP API Toolbox (ART) and EDS Sandbox
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Submission of statistical reports on a quarterly basis to the EPC for any agents using our RVM service
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Conformance to all VOP and EDS technical specifications
What our clients need to do:
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Integrate Ozone API’s VOP Responder and VOP Requester APIs
Pricing Plans
Our VOP pricing is simple and transparent, with no hidden charges. We offer scalable pricing, that reflects usage of the service. To find out how we can help you, speak to a member of our team today.
- Simple SaaS licence fee
- Scalable Pricing as Request/ Respond volumes grow
- Enhanced Support/ Service Desk options available
Future-proof your open API strategy
As the VOP deadline approaches we understand that the current focus is on delivering a compliant VOP solution, however, we are experts in providing open banking and open finance APIs to banks and financial institutions, and our solution can provide VOP and open banking functionality through integration with a single platform.
Want to know more about the Ozone API VOP solution? Click download PDF for more information.
Resources
Verification Of Payee in the EU: A Guide for Banks & PSPs
Discover how Verification Of Payee (VOP) is transforming EU payments by reducing fraud and misdirected transactions. With the first VOP rulebook in place and an October 2025 compliance deadline, banks and PSPs must act now. Learn how VOP works, why it matters, and how Ozone API can support seamless implementation. Read our guide to stay ahead of regulatory requirements and enhance payment security.
Shannon Dudley
20, Feb 2025
Verification Of Payee: A Global Overview
The EU’s new VOP mandate proves that Verification of Payee is gaining traction as regulators push for stronger payment security. We explore how different countries are implementing this fraud-prevention tool.
Shannon Dudley
27, Feb 2025
Mastering Verification of Payee with Senior Product Manager Ryan Waters
VOP is a new EPC initiative to enhance payment security in the SEPA zone. With the October 2025 deadline approaching, Ryan Waters of Ozone API explains how VOP works and how businesses can stay compliant.
FAQ’s
Ozone API delivers open APIs for banks and financial institutions around the world, for open banking, open finance, and Verification Of Payee. Our market-leading platform is trusted by central banks, major global banks, and financial institutions of all sizes. We are certified to the highest security standards. Whether it is complying with VOP, implementing the latest open banking API standards, or a combination of both, we provide everything you need for a quick and simple delivery.
1. What is Verification of Payee (VOP) and how does it work?
Verification of Payee (VOP) is a payment security service that confirms whether the account name you provide matches the actual account holder before processing your payment. When you make a SEPA instant credit transfer, your requesting Payment Service Provider (PSP) automatically sends the payee details (including International Bank Account Number and account name) to the responding PSP, which uses matching algorithms to respond with Match, Close Match, No Match, or Not Available. This robust verification mechanism prevents sending money to wrong accounts and reduces fraudulent transactions across European payment systems.
2. What's the difference between Verification of Payee (VOP) and Confirmation of Payee (CoP)?
Confirmation of Payee (CoP) operates only in the UK for domestic payments using sort codes and account numbers, while Verification of Payee (VOP) covers all European Union countries across the Single Euro Payments Area for SEPA instant credit transfers using International Bank Account Numbers. CoP has been voluntary for UK banks since 2020, whereas VOP is mandatory under EU regulatory compliance requirements by October 2025 for Eurozone countries and July 2027 for non-Eurozone EU members. VOP operates under stricter European Payments Council standards and provides cross border verification across 27+ European countries.
3. Is VOP mandatory for Payment Service Providers in Europe?
Yes, Verification of Payee (VOP) is legally mandatory for all European Payment Service Providers under the EU Instant Payment Regulation for regulatory compliance. Eurozone Payment Service Providers (PSPs) must comply by October 9, 2025, while non-Eurozone EU PSPs have until July 2027. All PSPs offering SEPA instant credit transfers (real-time euro payments) must provide robust verification mechanisms, integrate with the EPC directory service infrastructure, and ensure operational efficiency while meeting upcoming regulatory deadlines.
4. How does VOP prevent payment fraud and misdirected payments?
Verification of Payee (VOP) prevents fraud by verifying account names in real-time before payments are processed, catching Authorized Push Payment (APP) scams where fraudsters provide fake payee details to trick victims. The system also prevents human errors like typos or wrong account details that cause misdirected payments. When VOP detects name mismatches through its verification process, it immediately alerts customers before money leaves their account, enhancing customer trust and operational efficiency while allowing them to reconsider the payment to the intended recipient.
5. Are VOP services free to customers?
Yes, Verification of Payee (VOP) services must be provided completely free of charge to customers under EU regulations. The Instant Payment Regulation prohibits the payer’s payment service provider (PSP) from charging any fees for VOP verification, ensuring regulatory compliance whether for domestic or cross-border EU payments across European banks. Ozone API can help you comply at extremely competitive rates with our cost effective VOP solutions.
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