Since the EPC VOP scheme launched, Banfico has been a central contributor to its rollout and evolution. We were the first officially qualified RVM, participated in EDS and ART v1.0 pilot testing, and actively engaged in RVM peer meetings and peer-to-peer testing.
The company also took part in the IBAN-to-BIC directory service provider call for interest, supported the EPC’s IBAN-to-BIC testing using its own solution, and is currently the technical VOP solution provider for 175 PSPs.
Banfico continues to shape the VOP landscape today, by contributing to ART v1.1 pilot testing and the VOP rulebook version 2.0 change management process, reinforcing its commitment to a stronger payments ecosystem.
For us, staying ahead of regulatory change isn’t a box-ticking exercise. It’s how we protect and empower our customers to follow a clear, committed path to EU standards-aligned payee verification, built on a foundation that’s both technically robust and regulatory sound.
Our role in shaping the standard
Compliance is the floor, not the ceiling.
That’s why we believe active participation in the evolution of VOP is crucial for the market as a whole.
Implementation of rulebook version 1.1 changes
We’re pleased to confirm that Banfico is on track to be fully compliant and conforming with the European Payments Council’s (EPC) Verification Of Payee (VOP) scheme rulebook version 1.1 long ahead of the deadline on September 20, 2026.
Participation and successful completion of ART v1.1 pilot testing
For the API Reference Toolkit (ART) version 1.1, Banfico has volunteered to test upcoming changes and successfully completed the testing. The EPC acknowledged Banfico’s contribution positively, noting that our engagement helped accelerate the consultation process and brought valuable technical depth to the review.
Active participation in the rulebook version 2.0 change management process
During the change request consultation period for VOP version 2.0 (which ran from December 18, 2025 to February 15, 2026), Banfico submitted seven change requests to the EPC.
Four of those requests were accepted into the public consultation, a testament to the quality and relevance of our technical input. That’s more than half our proposals moving forward, and a meaningful contribution to a scheme that will govern payee verification across Europe for years to come.
The participation of Banfico and a few other RVMs was also acknowledged and appreciated by EPC in the recent RVM MSG meeting and EPC wants the RVM to continue to contribute to the change management process.
What’s coming in VOP version 2.0
The public consultation for the VOP rulebook version 2.0 includes several significant proposed changes, and some of the most important ones include:
- Addition of granular NOAP response codes: more precise, actionable feedback on payment verification outcomes
- Inclusion of non-EEA PSPs: a pivotal expansion that brings the VOP scheme to payment service providers beyond the European Economic Area, moving the standard toward a truly global reach
- Making VOP currency and transfer scheme agnostic: enabling the framework to operate across different currencies and payment rails, not just SEPA Credit Transfers
- VOP dispute resolution process: establishing a formal, standardised mechanism for handling verification disputes
One of the most significant horizon changes is the expansion of VOP to the broader SEPA region, a move that opens the standard to a wider geography and reflects the growing cross-border nature of European payments.
Approved changes will be incorporated into the VOP rulebook version 2.0, scheduled for publication in November 2026, with an expected effective date in H2 of 2027.
We’ll continue to keep you informed as version 2.0 progresses through consultation and toward publication. If you have questions about how these changes may affect your implementation, our team is ready to help.