Podcast with Ruwani Hewa - presented by TechnoXander.
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.
Podcast with Marie Walker - presented by TechnoXander.
Podcast with Martin Koderisch - presented by TechnoXander.
Podcast with Charlotte Crosswell OBE - presented by TechnoXander.
Podcast with Ghela Boskovich - presented by TechnoXander.
Podcast with Madush Gupta - presented by TechnoXander.
Podcast with Lord Chris Holmes - presented by TechnoXander.
Over the past six years, Open Banking in UK has grown significantly and changed the way we make payments. Thanks to its emphasis on affordability, security, and ease of use, Open Banking-enabled payments are set to take the lead in the digital payments space. To realise Open Banking's full potential, collaboration as well as backing will be essential along the way.
The article delves into the Confirmation of Payee (CoP) system, a security feature preventing misdirected payments and fraud. It introduces the foundational concept of CoP and emphasizes its role in enhancing financial system trust. Focusing on the Requester Module, it outlines its functions, integration versatility, and user experience benefits. The module initiates CoP requests, handles various transaction types, and facilitates efficient responses, aiding in fraud prevention. The Responder Module is then explored, highlighting its role in managing inbound CoP requests, meticulous data matching, customization, response generation, and collaboration with TechnoXander for informed decision-making.