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PAYEE VERIFICATION PLATFORM

Real-time Verification of Payee for PSPs

A beneficiary name and account details matching service that helps ensure secure and reliable credit transfers, whether instant or standard.

As an EPC Verification of Payee (VoP) Scheme-compliant Routing and/or Verification Mechanism (RVM), LUXHUB's Payee Verification Platform is already trusted by more than 50 PSPs across Europe.

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Match, No Match, Close Match

Why now

In production since day one,

now extending beyond the Eurozone

9 October 2025 marked the start of the Verification of Payee (VoP) obligation in the EU. Introduced under the Instant Payments Regulation to make credit transfers safer and reduce payment errors, VoP checks whether a beneficiary's name matches the associated account number before a payment is executed.

The result is returned instantly within the payment workflow, enabling payers to confirm beneficiary details before the credit transfer is authorized.

Beyond regulatory compliance, VoP helps address a growing challenge for financial institutions: payment fraud. The upcoming Payment Services Regulation (PSR) will reinforce the role of VoP, while PSPs outside the Eurozone are preparing for compliance ahead of the 9 July 2027 deadline.


The Payee Verification Platform is:

in production since day one of VoP

an EPC VoP Scheme-compliant Routing and/or Verification Mechanism

trusted by 50+ PSPs across the EU

PSR-ready

VOP in the EU

Why LUXHUB for VoP

A proven platform, not a build project

Build in-house LUXHUB Payee Verification Platform
Time to market Long implementation and testing cycle Production-ready VoP platform with rapid onboarding
EPC VoP compliance Interpret and implement scheme requirements internally EPC VoP expertise embedded within the platform
Matching capabilities Design, test and maintain your own matching engine Proven matching engine delivering over 90% positive match outcomes (full and close matches)
Connectivity Build and maintain ecosystem connectivity Ready-to-use connectivity managed by LUXHUB
Resources Dedicated compliance, IT and operational teams required Access to VoP, payments and connectivity specialists
Scheme evolution Analyze and implement future scheme releases Continuous scheme monitoring and platform updates
Operations Internal monitoring, support and maintenance 24/7 monitored and managed service
Risk Higher implementation and operational complexity Helps mitigate implementation and operational risk
Experience Build and validate from scratch Proven platform already supporting European PSPs
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How it works

One API call, four answers:

Match, Close match, No match,

Check not possible

 

 Submission 

PSU enters the beneficiary name and his/her account details (e.g. IBAN) before validating the payment.

Verification

Both are checked instantly, leveraging a powerful matching algorithm, SEPA-wide. Get a response from the payee's PSP.

Decision

PSU is informed by the result (Match, Close match, No match, or Check Not possible) and decide whether or not you proceed with the credit transfer.

Diagram Payee Verification Platform

One platform, two services

Whether you  send or receive payments, one platform covers both sides of Verification of Payee

Two sides of the same coin. A single platform providing the services Payment Service Providers need to comply with the Instant Payments Regulation (IPR) and upcoming Payment Services Regulation (PSR) requirements, while helping protect customers from misdirected and fraudulent payments.


 Unified Access for Requesting PSPs


Meet Verification of Payee requirements and help ensure that payments initiated by your customers reach the intended beneficiaries across Europe.


 A single interface to verify recipient accounts across Europe, regardless of the verification channel or use case,

 Flexible integration options, including APIs for single and bulk checks as well as a web portal, allowing seamless integration into multiple payment initiation journeys,

Direct connectivity to relevant domestic and international schemes and hubs, simplifying access to the broader European VOP ecosystem.

 Service Provision for Responding PSPs


Meet Verification of Payee obligations as a responding PSP by exposing a compliant VOP service to requesting PSPs.


 Shared expertise, development efforts and operating costs across a proven platform,

 Advanced name-matching engine delivering more than 90% positive match outcomes (full and close matches), while remaining fully aligned with scheme requirements,

 Simple and efficient account data import process with built-in validations, leveraging existing connectivity wherever possible,

 Secure, encrypted and logically segregated data storage hosted in  Tier IV datacenters in Luxembourg

 Optional real-time API fallback for institutions preferring direct account verification and ad hoc access to individual account details

 LUXHUB is a qualified EPC Routing and/or Verification Mechanism (RVM) for both Requesting and Responding PSPs. The platform is fully aligned with the EPC VoP Scheme Rulebook, the VoP Inter-PSP API Specifications and the EPC API Security Framework, enabling secure, interoperable and compliant Verification of Payee services across Europe.
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Integration

From testing to production in weeks

LUXHUB's VOP solution

Benefit from a single REST API, sandbox access from day one and a dedicated integration contact all the way through go-live. 

REST API with real-time and batch processing capabilities,

 Dedicated non-production environment for testing and validation,

 VoP Portal for manual checks, operational monitoring and key usage insights,

Comprehensive documentation and developer resources available through our Developer Portal.

Read the documentation

Capabilities

Everything you need to comply and reduce fraud

Real-time verification

Instant responses before processing the payment.

SEPA-wide coverage

Reach virtually any VoP-participating PSP across Europe through a single integration.

EPC VoP Scheme-compliant

Qualified RVM for both the requesting and responding sides.

3 outcomes: Match / Close Match / No Match

Clear and actionable outcomes so that the user can make an informed decision.

Powerful name matching algorithm

Built in-house for the specific VoP use case, handles multiple language variations.

Real-time & batch verification possible

The opportunity for a certain type of clients to leverage a batch verification feature.

Compliant & secure

Supervised, certified, EU-hosted


RVM under the EPC VoP Scheme
CSSF supervised entity
(n° Z00000024)
ISO 27001 certified
TIER IV datacenters in Luxembourg
EU data hosting
DORA-ready

FAQs

Questions teams ask about VoP

All you need to know about VoP and LUXHUB's Payee Verification Platform.


Verification of Payee (VoP) is a requirement introduced under the EU Instant Payments Regulation (IPR) that enables PSPs to verify whether a beneficiary's name matches the account identifier provided by the payer before a credit transfer is initiated.

The objective of VoP is to improve payment security by helping prevent fraud, misdirected payments, and payment errors. By informing the payer when the beneficiary's name and account details do not match, VoP helps reduce the risk of funds being sent to the wrong recipient and strengthens confidence in electronic payments.

Verification of Payee (VoP) became mandatory for PSPs in the Eurozone on 9 October 2025, following the implementation timeline established by the EU Instant Payments Regulation (IPR).

Since that date, PSPs offering euro credit transfers have been required to provide payers with a Verification of Payee check before a payment is executed, enabling them to verify that the beneficiary's name matches the account details provided.

The VoP requirement will be extended to PSPs in non-Eurozone EU Member States in accordance with the phased implementation schedule set out in the Regulation, with additional deadlines applying depending on the type of payment service provided.

LUXHUB's Payee Verification Platform is a comprehensive Verification of Payee (VOP) solution that helps PSPs comply with the EU Instant Payments Regulation and the EPC VoP Scheme.

The platform includes two complementary components:
  • VoP Service Provision, enabling Responding PSPs to provide real-time beneficiary verification services,
  • VoP Unified Access, offering Requesting PSPs a single gateway to access beneficiary verification services across Europe.

By bringing both capabilities together within a single platform, LUXHUB helps PSPs accelerate compliance, simplify connectivity, and improve payment security.

LUXHUB's Payee Verification Platform combines two complementary services designed to support PSPs throughout their Verification of Payee (VoP) journey.

VoP Service Provision supports PSPs acting as Responding PSPs by enabling them to provide a secure and compliant real-time beneficiary name and account verification service. The solution includes account data onboarding with built-in validation controls, secure encrypted data storage, and flexible integration options, including API-based access.

VoP Unified Access supports PSPs acting as Requesting PSPs by providing a single connection point to access Verification of Payee services across Europe. The service offers flexible integration options, including single and bulk verification requests as well as a web portal.

LUXHUB has developed a proprietary name-matching algorithm specifically designed for the requirements of Verification of Payee (VoP) and the characteristics of financial account data.

The algorithm is optimized to handle common variations in beneficiary names, including legal entity names, abbreviations, nicknames, accented characters, spelling variations, and transliteration differences. Rather than relying solely on exact string matching, it applies advanced matching logic to assess the degree of correspondence between the beneficiary name provided by the payer and the name associated with the account.

This approach helps deliver accurate match, close match and no match results in line with the EPC Recommendations for the Matching Processes under the VoP Scheme Rulebook, while reducing the risk of false positives and supporting a seamless payment experience for customers.

Although Verification of Payee (VoP) was introduced as part of the EU Instant Payments Regulation, its scope extends beyond instant payments.

VOP applies to all euro-denominated credit transfers, including both SEPA Instant Credit Transfers (SCT Inst) and standard SEPA Credit Transfers (SCT). Before a payment is authorised, PSPs must verify whether the beneficiary's name matches the account identifier provided by the payer and communicate the result to the payer.

As a result, VoP is not limited to instant payments. It applies across a broad range of payment scenarios, including retail payments, bulk payments, and corporate payment transactions.

Verification of Payee (VoP) helps protect consumers and businesses by verifying that the beneficiary's name matches the account identifier provided before a payment is authorized.

This additional verification step helps detect potential fraud attempts and payment errors before funds are transferred. For example, fraudsters may impersonate suppliers, business partners, employees, or public authorities and provide account details that differ from those of the legitimate beneficiary. If a mismatch is detected, the payer is informed before the payment is executed, allowing them to review the transaction and investigate further if necessary.

By providing real-time feedback before a payment is sent, VoP helps reduce the risk of fraud, misdirected payments, and costly payment errors while increasing trust in electronic payments.

The EPC (European Payments Council) VoP Scheme is a standardised pan-European framework defining the rules, technical standards, and operating procedures for Verification of Payee services across the SEPA zone. Compliance with the EPC VoP Scheme ensures interoperability between PSPs across EU member states allowing a French payer’s bank to query the VoP service of a German payee’s bank, for example. LUXHUB’s Payee Verification Platform is EPC VoP Scheme-compliant, ensuring its customers can connect with any PSP across the European VoP ecosystem.

Yes. LUXHUB’s VoP Unified Access service is designed to provide a single interface for verifying recipient accounts at payee PSPs across Europe, not just in Luxembourg. LUXHUB maintains direct 1:1 partnerships with relevant domestic and European schemes and hubs, enabling its clients to query VoP services at PSPs in multiple EU member states through a single integration. This pan-European reach is essential for PSPs whose customers make cross-border credit transfers.

LUXHUB’s Payee Verification Platform is specifically designed to reduce the burden of VoP implementation through mutualization. Development, infrastructure, regulatory monitoring, and scheme compliance complexity are shared across all LUXHUB VoP clients. The platform reuses existing technical integrations where possible, making the account list import process easy to implement and maintain. Flexible integration options including single-check, batch-check, and web portal endpoints that allow PSPs to integrate VoP into their existing payment initiation touchpoints with minimal disruption. 

Several dozen of Financial Institutions in Luxembourg and in Europe, selected LUXHUB as their VoP service provider. This significant mandate reinforces LUXHUB’s position as the leading VoP compliance partner in the Luxembourg market and reflects the confidence of the country’s major financial institutions in LUXHUB’s Payee Verification Platform.

LUXHUB has published a dedicated Verification of Payee White Paper ‘Tackling the Verification of Payee Challenge’ covering IPR compliance obligations, EPC VoP Scheme adherence, European PSP connectivity, and implementation guidance. The product brochure can be downloaded here. For a personalised discussion, contact LUXHUB or email info[at]luxhub.com.

Ready to start your VOP journey?

A 30-minute call with our experts. Let's discuss your Verification of Payee challenges and/or needs. We look forward to talking to you and presenting our Payee Verification Platform to your team.

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