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Verification of Payee (VoP) – FAQ

Alexandre Criseo avatar
Written by Alexandre Criseo
Updated this week

What is Verification of Payee (VoP)?

Verification of Payee (VoP) is a European mechanism designed to make SEPA credit transfers more secure.

Starting October 9, 2025, VoP will be mandatory for all payment service providers in the SEPA area, including banks.


How does VoP work?

Before executing a transfer, VoP checks in real time whether the IBAN entered matches the beneficiary’s name.

The result may appear as:

  • ✅ Match → exact correspondence

  • ⚠️ Close match → near correspondence

  • ❌ No match → no correspondence

  • ⏸️ No answer → verification not possible


Why has this regulation been introduced?

VoP has two main objectives:

  • Reduce errors (e.g., typos in the beneficiary’s name)

  • Limit fraud (fake bank details, invoice fraud, identity theft)

It applies to everyone making SEPA transfers: individuals, professionals, businesses, and associations.


Will my transfer be blocked if there is no match?

No.

  • The transfer is not blocked, even if the result is “Close match” or “No match”

  • You can still confirm the payment manually after verifying the beneficiary’s details yourself


What should I do if a warning appears?

  • Double-check the information (beneficiary’s name and IBAN)

  • If you recognise and trust the beneficiary, you may still validate the transfer


What happens if I pay a merchant via Fintecture?

With Fintecture Immediate Transfer:

  • VoP is exempted

  • The IBAN and beneficiary’s name are automatically verified and filled in — you don’t need to type anything

With a standard bank transfer:

  • Always use the details provided to you by the merchant or Fintecture

  • You must enter as the beneficiary the name explicitly indicated on the payment flow or on the PDF

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