Unveiling Confirmation of Payee- Decoding CoP Models: A Comparative Analysis of Direct and Aggregator Models
The blog discusses the critical role of Confirmation of Payee (CoP) in ensuring payment security and explores two integration models, Direct and Aggregator. The Direct Model involves meticulous onboarding and maintenance, requiring multiple contracts and connections. Despite its current complexity, Direct Model is evolving towards a more streamlined process, allowing PSPs to connect directly with others. In contrast, Aggregator Model, introduced for scalability and speed, simplifies the CoP ecosystem by allowing Technical Service Providers (TSPs) to join and streamline the connections. However, it operates exclusively on the new Pay.UK directory, posing challenges for PSPs relying on the existing OBIE directory.