Instant Payments Regulation: How to Stay Ahead in 2024?
The European Parliament has released new Instant Payment Regulation (IPR) i.e. EU Regulation 2024/886 for all the European Union countries to fight APP scams.
COP TF’s Role in the VOP Scheme Management
The Verification of Payee (VOP) Scheme plays a role, in ensuring that payments reach the intended recipients accurately thus minimizing the potential, for fraud and mistakes. Overseen by the European Payments Council (EPC) AISBL the VOP Scheme Management follows an approach to uphold its reliability and flexibility.
5+ Obligations for VOP Service Providers
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.
Verification of Payee (VOP) Guidelines
The VoP Scheme establishes a set of rules, practices and standards for verification of payee name.
Verification of Payee (VoP) in 2024 – How it works?
In an age where digitisation is taking over, better security and accuracy of financial transactions is a must. To address the modern cybersecurity measures in financial domain, the European government has released its Verification of Payee (VoP) guidelines to revolutionise the banking system across Europe. Here’s how VoP could be changing things for financial and safety […]