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VOPCasts

VOP for PISPs In this VOPCast, Ralf Ohlhausen, Chair of the European Third Party Providers Association, and Vasile Valcov, VOP Expert at Banfico dive into the implications of the Instant Payments Regulation (IPR) for Payment Initiation Service Providers (PISPs). They share their insights on how

EPC Verification of Payee (VOP)

Banfico Knowledge Series on EPC Verification of Payee is an initiative where we share market updates and insights into specific areas related to EPC Verification of Payee (VOP) that are relevant to all market participants including banks, PSPs, RVMs and corporates. 1. Channel Integration -

EPC VOP Scheme Adherence Wave 1 is Live – Act now

ON 24-Mar-2025, the European Payments Council published the verification of payee scheme adherence process that provides detailed guidelines for participants to join the VOP scheme. The EPC expects a high number of expected adherence requests, and hence, the EPC cannot guarantee to complete the adherence

EPC VOP – Customer Communication Essentials

Banks and Payment Service Providers (PSPs) across 20 Eurozone countries are scheduled to implement the Verification of Payee service for their customers in October 2025. Since this service will directly impact all account holders, an effective change management process is essential. This process must include

EPC VOP – Build vs Buy decision

VOP is a regulatory requirement that must be complied with by Eurozone PSPs by October 2025. Over the past few months, the clarity on the VOP has improved and several vendors including RVMs have offered VOP solutions. 90% of the scheme participants are expected to

VOP for Open Banking Channel (PISP)

The regulatory requirement related to VOP for Payment Initiation Service Provider (PISP) initiated transactions and its implementation details is something that VOP ecosystem participants must be aware of. Here is the summary of key VOP requirements for PISP-initiated transactions. Regulatory requirements for PISP-initiated transactions For

VOP for Offline Channels – Quick Reference Guide

Regulatory Mandate Article 5c.1 of IPR states: The payer’s PSP shall offer the service ensuring verification regardless of the payment initiation channel used by the payer to place a payment order for the credit transfer. EU regulation defines ‘Payment initiation channel’ as “any method, device