Verification of Payee (VoP): the simple step making payments safer Europe-wide

Verification of Payee (VoP): Enhancing Payment Security Across Europe

In the era of instant digital payments, speed is crucial, but it also increases the risk of mistakes and fraud.

To mitigate this risk, the European Union is introducing Verification of Payee (VoP), a safety feature designed to ensure that payments are made to the intended recipient.

VoP is a simple yet effective tool that confirms the account holder's identity, protecting users from fraud by verifying that the account belongs to the intended payee.

When sending money, users typically enter the recipient's name and IBAN (International Bank Account Number).
VoP adds an extra layer of security to this process, confirming the account holder's identity and reducing the risk of errors or fraudulent transactions.

VoP is a simple step that helps protect you from fraud by confirming that the account you’re sending money to actually belongs to the person or business you intend to pay.

This feature is transforming the way we trust and send money in the Single Euro Payments Area (SEPA), making transactions safer and more secure.

Author's summary: VoP enhances payment security across Europe with a simple verification step.

Cyprus Mail — 2025-10-13

Verification of Payee (VoP): Enhancing Payment Security Across Europe

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