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Verification of Payee

Our verification of payee solution enhances trust, ensuring that businesses and customers can confidently confirm their payments reach the intended recipients.

Verification of Payee
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Confirmation of Payee

Our solution gives businesses and customers greater confidence that their payments are received by recipients they were intending to pay.

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Open Banking Dedicated Interface

Our API solution is compliant with latest technical standards in UK and helps ASPSPs meet their PSD2 obligations.

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Open Banking Contingency Mechanism

Our solution can be used by ASPSPs who do not have a working Open Banking Dedicated Interface or have failed to obtain Contingency Mechanism exemption from FCA.

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Open Banking Test Suite

Our fully automated interactive in-house testing application to help ASPSPs test their Open Banking Dedicated Interface implementations.

TechnoXander Verification of Payee (VoP) API is a cutting-edge solution for all your name and account verification checks when processing SEPA Payments. Our Verification of Payee (VoP) API verifies payee’s name before any transaction, putting an extra layer of security to prevent APP fraud. 

Considering the increasing number of APP scams, TechnoXander VoP API aims to secure all payments by verifying payee’s name and IBAN before a payment is initiated. Our Verification of Payee solution is easy to integrate and complies with the European Payment Council (EPC), Nordic Payment Council (NPC) and Single Euro Payments Area (SEPA) regulations.

Verification of Payee (VoP)

Open Banking Product Suite

A one stop shop for all your Open Banking requirements.

Our Open Banking Dedicated Interface API solution is compliant with latest technical standards in UK to help banks meet their PSD2 obligations.

Also known as Modified Customer Interface or Fallback Mechanism is an alternate way for TPPs to connect with ASPSPs.

A fully automated interactive In-house Testing application

Confirmation of Payee gives businesses and customers greater confidence that their payments are received by recipients they were intending to pay.

Both business and personal clients can benefit from this added layer of protection against fraud. The service is real time and quick way of checking if the payee’s name, sort code and account number actually match the account holder’s details at payee bank. 

The service works for payments being made to and from GBP accounts held at any UK bank.

Developers

Our API Sandbox allows developers to freely use our APIs so that applications can move to Production environment with ease. Our sandbox helps accelerate development and allows testing your application in real-world conditions.

Our platform is language and framework agnostic, giving developers the freedom and flexibility to build solutions in whatever way they choose.

The API Sandbox contains dummy data about customer accounts and transactions. From a developer point of view, the API behaviour, parameters, and headers are identical to the Production APIs…


About TechnoXander

We are a UK-based Fintech specialising in Payments innovation. TechnoXander is an enthusiastic team interested in helping banks and institutions make the most of PSD2, Open Banking and fraud prevention solutions such as Confirmation of Payee (CoP).

We adapt and re-invent ourselves every day to embrace the changes in the payments world. We invest in building products and practices which align with the latest trends in the market. Our products built in-house are a testament to a team which adapts and learns quickly. Our products are compliant with regulatory requirements and are built on a modern technology stack.

Why Choose us?

Our products are compliant with regulatory requirements and are built on modern technology stack. We do not do white-labelling and so, have full control on the roadmap of our products making it easier to implement regulatory changes in products as the ecosystem evolves. 

Open Banking Experts at TechnoXander

Experts in Open Banking

Fully complaint products at TechnoXander

Fully Complaint Products

Modern technology stack at TechnoXander

Modern Technology Stack

No white label products at TechnoXander

No White-Labelling

ISO certified products and services at TechnoXander

ISO 27001:2022 certified

Collaborative approach at TechnoXander

Collaborative Approach

Flexible Pricing models

Flexible deployment at TechnoXander

Flexible Deployment

Our Latest Blogs

We are all about latest ideas which have an impact on payments ecosystem and we are fun to work with! Reach out to us for a friendly chat to see how we can help your organisation make the most of Open Banking or CoP.

APP Scams Vs Civil Disputes: Navigating the Grey Area

The PSR's guidance report on distinguishing APP scams from civil disputes could help PSPs assess reimbursements claims for payments made via Faster Payments and CHAPS...

10+ Benefits of CoP Implementation in 2024! 

Confirmation of Payee’s name verification process reduces the risk of APP fraud. It also can enhance the detection of fraudulent activities by cross-checking account information. Its successful use...

Episode 8: Going Beyond Open Banking 

Podcast with Nilixa Devlukia - presented by TechnoXander...