EPC launches call for interest in verification of payee routing and/or verication mechanism
The European Payments Council (EPC) launches today a call for interest inviting organisations to express their intention to offer services as a Verification of payee (VOP) scheme-compliant Routing and/or Verification Mechanism (RVM) in the EPC VOP scheme.
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The VOP scheme, developed by the EPC, will come into effect on 5 October 2025. It aims to help Payment Service Providers (PSPs) in the European Union (EU) and European Economic Area (EEA) meet new regulatory requirements for payee verification. These regulatory requirements mandate that all PSPs in the EU/EEA implement a mechanism to verify the payee (i.e., beneficiary) of an (instant) credit transfer.
How to participate
Organisations interested in offering their services as RVM in the context of the VOP scheme and interested in being among the first to be listed as VOP-scheme compliant RVMs on the EPC website, are kindly invited to complete and submit the form via email to vop@epc-cep.eu by 20 December 2024, midnight Brussels time.