Banks/PSPs typically use multiple customer/staff channels for initiating payment transactions (Mobile Banking, Internet Banking, Phone Banking, Branches, Host-to-Host, ERP etc.) and it is required to integrate each payment initiation channel with the VOP solution. Some of the channels are customer-facing and hence a prudent analysis

The EU's new Instant Payments Regulation (IPR) is reshaping how we handle payments and payment verifications. While these changes might seem daunting at first, they offer an optimal balance between security and business efficiency — the focus today is on organisations processing large payment volumes and the

Name matching is an important component of the European Payments Council (EPC) Verification of Payee (VOP) scheme, validating payee information before the payments are processed. Its accuracy directly impacts PSP’s fraud liability, customer experience, regulatory compliance, and market reputation, making it a strategic priority for

Under the second EU Payment Services Directive (PSD2) and the UK’s Open Banking Regulation, banks are required to allow third parties with the appropriate payment services permissions to access their customer payment accounts and prevent access for organisations without these permissions. If banks fail to

On November 29, 2021, the Financial Conduct Authority (FCA) published a Policy Statement on “Changes to the SCA-RTS and to the guidance in ‘Payment Services and Electronic Money’”, which provides information on the use of a Modified Customer Interface (MCI) following industry consultations.  MCI Cannot Be

In the two years since open banking was approved by Brazil’s Central Bank, there has been a great deal of progress, despite a few set backs. Here, we look at how CIP, in partnership with Banfico, is helping spearhead the change. Originally due to be