Daily Dash: EPC Calls For Interest In Verification Of Payee Service Providers

November 25, 2024

The European Payments Council (EPC) has announced a call for interest from organisations aiming to offer routing and/or verification mechanisms services under its Verification of Payee scheme.

The European Payments Council (EPC) has announced a call for interest from organisations aiming to offer routing and/or verification mechanisms (RVM) services under its Verification of Payee (VOP) scheme.

Set to launch on October 5, 2025, the VOP scheme will help payment service providers (PSPs) across the EU and EEA meet regulatory requirements for verifying payees in instant credit transfers, which is a compliance requirement of the Instant Payments Regulation (IPR).

Interested parties wishing to be among the first listed as VOP-scheme compliant RVMs can apply before December 20, 2024.

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