What is Verification of Payee (VoP) ?

What is VoP (Verification of Payee)?

Verification of Payee (VoP) is a security check designed to reduce the risk of payment errors and fraud. It verifies the beneficiary’s name against their bank account details, helping ensure funds are sent to the correct recipient. This measure is part of a wider industry initiative to improve payment safety and confidence.

Is VoP mandatory?

Yes. From 9th October 2025, VoP becomes mandatory for payment service providers (PSPs) in the European Union, under the new European Instant Payments Regulation.

Financial institutions must implement this security measure to help reduce fraud and operational errors.

When is the VoP check performed?

VoP is performed when you initiate a new SEPA payment. Here’s how the process works:

You choose your beneficiary
Fipto sends this data to the recipient’s bank
The bank checks the name against their internal records
The result is sent back to us
We display the result before you confirm the payment

The entire process takes just a few seconds.

What information is checked during VoP?

The system compares the account holder's name with the name you provide. It looks at:

Individual names (first, middle, last)
Business names

The check allows for minor variations but is designed to flag significant discrepancies.

What are the different results possible ?

Result	Meaning
Match	The name matches, and the payment can proceed.
Close match	The name is similar, but not exact so you will be asked to review and confirm.
No match	The name does not match so you will be asked to verify the details.
Not applicable	It was not possible to access the beneficiary’s bank to confirm. Verify the details before proceeding with the payment.
Not available	A technical issue prevented us from launching the verification process. Please verify the details before proceeding with the payment.

Regardless of the result, the decision to proceed with the payment is always yours. The VoP check is a tool to help you make informed decisions.

What happens if I proceed despite a "No Match" warning?

We’ll always let you decide whether to proceed with a payment — even if the result shows “No Match” or “Close Match”.

However, if you send funds to the wrong account, recovering them may be difficult. In some cases, you may be held responsible for the error.

How does VoP work with batch payments?

VoP is fully supported for batch payments. Each beneficiary is verified individually. You will receive a separate result for every transaction in the batch.

Once all verifications are complete, you can:

Review the results for each beneficiary
Update any beneficiary details in your files if needed
Decide whether to proceed with all payments, even those with warnings

This approach ensures that batch payments maintain the same level of security while still allowing for efficient processing of multiple transactions.

Is it possible to opt-out of the VoP check ?

It is possible to opt-out but only in the case of batch payments. Single payments must go through the VoP checking process. To opt-out, you can select the “Opting-out of VoP for batch payments” option in your account settings. The option can be enabled back at any point, if you wish to.

How can I improve my chances of a successful VoP check?

To reduce warnings and improve match rates:

Use the full legal name of the person or business (not nicknames)
For businesses, use the official registered name (which might differ from their trading name)
Double-check for typos before submitting
Ask your beneficiary to confirm exactly how their name appears on their bank account

Need more help?

If you have questions about VoP or need assistance with a specific payment, contact our customer support team.