TechnoXander 216 5+ Obligations as a VOP service provider

The demand for precise and secure transactions is high in an age of payment digitalisation. An important part of VOP is the process of verification of the payee – which makes payments secure by verifying if the payee’s details provided are a match, close match or no match to the details possessed by the payee bank. 

This mitigates potential risks that come with inaccurate, misdirected, or fraudulent payments, especially instant payments. However, there are a set of details that both participants in this process (payer bank and payee bank) must know – which are their duties and rights.  

This aspect is the most important one in the process of payments, as it will be the defining factor in the smooth functionality of the scheme. 

What Should You Know as a Participant registered with the Verification of Payee Scheme? 

Success of the Scheme Depends on its Participants

All PSPs registered under the VOP scheme must follow the set of rules and guidelines laid out in the VOP Scheme Rulebook by the European Payment Council. In brief, actors involved must pay close attention while following procedures before initiating and responding to verification requests.  

They must also meet regulatory requirements that have been set by the relevant authorities (NCAs) 

The Importance of Being in Complete Accord  

Just as cooperation is required for anything to exist or succeed, PSPs and actors need to be in cahoots with each other to ensure the successful implementation of the VOP process.

The Scheme sets a maximum execution time of three seconds (preferably 1 second or less) from the moment the Requesting PSP addresses its VOP Request to the Responding PSP, to the moment the Requesting PSP receives the VOP Response from the Responding PSP to its initial VOP Request.

PSPs must respond to verification requests and provide the information within the execution time set by the Scheme. 

Obligations to Provide Accurate Information  

Transparency is crucial for actors to secure their trust and continue the use of the scheme. Therefore, all participants of the VOP scheme are obligated to provide accurate information. 

This includes their obligation to ensure that the payee’s details have been verified or indicate if they have not, enabling others to proceed with caution. EPC recommendations for the matching processes under the VOP Scheme Rulebook must be followed so that all participants are on a level playing field. 

PSPs are Obligated to Ensure High Availability 

The participants must be able to process verification requests and responses 24 hours a day on all Calendar Days of the year. This will require careful planning with high availability ensured in the design of verification of Payee applications. Also, business continuity planning will need special attention.  

The Complete Protection of Data

Keeping personal and financial data safe and secure is a shared responsibility among participants, as mandated by the VOP Scheme Rulebook. When such strong data protection measures, like encryption and access controls, are implemented and followed they dissolve the risk of data breaches and unauthorised access.  

Must Instantly Address Disputes  

Receiving and responding to PSPs registered under the Verification of Payee (VOP) scheme must address disputes when raised by an actor if discrepancies or errors are caused directly by their financial institution during the process of the verification of payee. 

This ensures a timely resolution of issues and maintains the integrity and trust of the actors. 


A sound understanding of the responsibilities before proceeding with any decision goes a long way to ensuring successful execution. The same goes for the Verification of Payee (VOP) under SEPA, which you can find details about here.  

At TechnoXander, we have already implemented Confirmation of Payee successfully at many banks. We understand our participants and have the right solution which meets all obligations of Requesting and Responding PSPs. Speak to our experts to understand more about how we can help you meet your obligations under the Instant Payment Regulation and VOP Scheme rulebook. 

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