The headed paper method Gavin Lawrence over at Movimo has been thinking about collecting bank details….. Invoice fraud and procurement fraud has been around for ages, I remember first receiving a false update to supplier bank details by fax, so I suspect that was at least 20 years ago. When we are being set up... Continue Reading →

SurePay’s APIs are now available via the Temenos Exchange partner ecosystem making Verification of Payee (EU) and Confirmation of Payee (UK) easier for financial institutions. SurePay today (11 April 2024) announced that the SurePay solutions will be available via the cloud-based Temenos Exchange partner ecosystem. With impending regulatory changes from the UK Payment Systems Regulator... Continue Reading →

The clock is ticking… With less than one year to go to the deadline set by the Payment Systems Regulator (PSR), all Payment Service Providers (PSPs) must think seriously about how they’re going to implement a Confirmation of Payee (CoP) system that conforms with regulatory requirements. As we move towards the October 2024 deadline, there’s... Continue Reading →

As an official Swift partner, SurePay now provides Confirmation of Payee to its customers, allowing an easy pre-validation of payment data on a Domestic, Pan-European and Global scale. SurePay, the leading provider of the IBAN-Name Check, Confirmation of Payee (CoP) and Verification of Payee (VoP) to over 100 banks, has announced the expansion of its... Continue Reading →

SurePay Introduces Bulk Check Functionality on UK Confirmation of Payee (CoP) Portal SurePay, a leading provider of innovative financial security solutions, announces the launch of bulk check functionality on its UK Confirmation of Payee (CoP) portal. This new feature empowers corporations to effortlessly verify up to 10,000 records in Excel format, enhancing efficiency and security... Continue Reading →

OneID® partners with Confirmation of Payee services provider Surepay UK Finance reported over 116k incidents of Authorised Push Payment Fraud in the first half of 2023. This is a 22% increase compared to a similar period in 2022. The amount lost was £239.3 million. The need to protect businesses and individuals from malicious actors has... Continue Reading →

The One-Stop, Simple Approach to Confirmation of Payee (CoP) Implementation The rise of APP fraud has led to the implementation of Confirmation of Payee (CoP) being mandated by UK regulators(PSR). If you’re a firm that has been told they need to implement CoP, you might be thinking, “well, now what?” Understand how SurePay’s cutting-edge technology... Continue Reading →

SurePay presents Developer Portal with API documentation for implementation SurePay's Confirmation of Payee makes it very easy to check payments. With the new Developer Portal, SurePay make it easier for developers to integrate this solution. The Developer Portal is specifically designed to help developers integrate SurePay's Confirmation of Payee solution into their systems. The Portal... Continue Reading →

Exclusive Confirmation of Payee event Are you part of the PSR Group's Confirmation of Payee (CoP) mandate scheduled for completion by October 2024? If yes, register for this forthcoming SurePay CoP exclusive event in London!Come & join us for an informal session with SurePay & payments expert Mike Chambers.Meet with the SurePay team and gain... Continue Reading →

SurePay Launches Developer Portal to empower UK PSPs to implement Confirmation of Payee London/Utrecht, 7 November 2023 — SurePay, the pioneer behind Confirmation of Payee, is excited to introduce the SurePay Developer Portal, an innovative platform designed to empower developers with the full potential of SurePay's offerings. This announcement comes at a pivotal time as... Continue Reading →

Rabobank and SurePay strengthen collaboration to improve fraud prevention Rabobank has announced the further intensification of its collaboration with SurePay to improve fraud prevention. On the one hand, the cooperation is aimed at increasing data coverage so that IBANs from more EU countries can be checked, and on the other hand, the Fraud Risk Indicator... Continue Reading →

Want to avoid project delays? “In delay there lies no plenty.” William Shakespeare, Twelfth Night Project procrastination can affect us all Procrastination is the act of waiting until the last minute to do those tasks that have a relatively high priority and typically require more effort than others. Adrian Neumeyer at Tactical Project Manager argues... Continue Reading →

SurePay announces One European IBAN-Name Check  UK Banks can benefit from this European IBAN-Name Check to protect their customers for SEPA payments and will need  to become compliant with the upcoming European Instant Payment regulation London/Utrecht 6 June 2023 - SurePay, the largest vendor of Confirmation of Payee, serving 40 UK Banks and Building Societies, is... Continue Reading →

SurePay, the leading provider of Confirmation of Payee solutions, is excited to announce the appointment of Sinitta Singh as its new Business Development Manager for the UK. As the mandated implementation of PSR Group 1 & 2 draws near, the addition of Sinitta to the team will help ensure a smooth onboarding process for more... Continue Reading →

With the new regulatory plans, the role and financial responsibility of Payment Service Providers (PSPs) will change. It will become increasingly important that PSPs use a Confirmation of Payee tool with the very best and most reliable algorithm. As PSPs will be liable for fraud losses, this is the only way to prevent immense financial... Continue Reading →

SurePay, the leading provider of payment verification solutions, has announced the launch of an online portal that enables UK banks and payment service providers (PSPs) to perform Confirmation of Payee checks. This innovative solution can be offered alongside SurePay's existing Confirmation of Payee solution, which helps banks protect their customers against fraud, and ensures compliance... Continue Reading →

London/Utrecht 7 March 2023 - SurePay, the European leading Confirmation of Payee provider, has today announced that UK fintech Allica Bank has implemented its UK Confirmation of Payee solution to protect consumers against fraud and misdirected online payments. CoP is designed to help customers avoid sending payments to the wrong account through fraud or human error... Continue Reading →

Payments made personal, easy and more secure SurePay's Confirmation of Payee (CoP) service is an innovative, real-time name checking solution that gives UK payers greater assurance that their payments are going to the intended recipient.   By confirming the payee’s name matches with the name on the intended recipient’s bank account, CoP helps avoid mis-directed payments... Continue Reading →

With the recent mandate from the Payment Systems Regulator a number of banks, building societies and PSPs are considering how to implement a Confirmation of Payee (CoP) solution in the most efficient and effective way, how they can protect their customers from fraud and errors and, as a payment provider, protect themselves from reimbursements and... Continue Reading →

Safer payments need service ubiquity The Payment Systems Regulator (PSR) is directing around 400 payment service providers (PSPs) to implement a system to offer the Confirmation of Payee (CoP) name checking service to their customers (both as payers and payees). This will help to reduce authorised push payment (APP) fraud and accidentally misdirected payments.  This direction is another big... Continue Reading →

Fintech pioneer Railsr increases fraud protection for customers who make bank transfers using UK Faster Payments (UKFP) by selecting leading CoP provider SurePay as its Confirmation of Payee vendor. Railsr, the leading global embedded finance experience platform, has selected SurePay as its UK Faster Payments (UKFP) Confirmation of Payee (CoP) vendor to help its customers... Continue Reading →

Confirmation of Payee The Payment System Regulator (PSR) have recently consulted on their proposed next steps on delivering Confirmation of Payee – a consultation that plans to see over 400 more firms introduce the payment protection measure. The PSR’s desired outcome is to see this essential fraud protection service increase coverage from 92% of transactions made via... Continue Reading →

Further participation in CoP  The Payment System Regulator (PSR) are consulting on their proposed next steps on delivering Confirmation of Payee - a consultation that will see around 400 more firms introduce the payment protection measure. This essential fraud protection service will increase coverage from 92% of transactions made via Faster Payments (FPS) and CHAPS... Continue Reading →

Recently Pay.UK announced that the UK’s Confirmation of Payee (CoP) service had processed more than a billion messages. CoP provides an important tool in the ongoing fight against fraud to millions of personal and business bank account customers across the UK. The Payment Systems Regulator (PSR) published a consultation that sets out how the regulator will achieve widespread coverage of the... Continue Reading →

In late May the Payment Systems Regulator (PSR) published a consultation that sets out how the regulator will achieve widespread coverage of the UK’s name-checking service, Confirmation of Payee (CoP).  In this blog we provide a quick summary of the consultation together with relevant links to the PSR’s website. In summary The PSR are seeking views on... Continue Reading →

It has been my privilege to join SurePay at the 2022 Building Societies Annual Conference in Liverpool. The event was a great opportunity to think about the role of building societies in ensuring that the UK’s Confirmation of Payee service delivers “safer payments through (CoP) service ubiquity” or, as SurePay put it, “be sure who you pay”. Combating payment fraud In... Continue Reading →

Fagan has gone digital The UK’s Confirmation of Payee (CoP) name checking service may not be perfect but in a world were Fagan has gone digital any initiative that thwarts the fraudster and protects our money has every right to be applauded. As Authorised Push Payment Fraud (APP Fraud) rises to eye-watering amounts it is surprising to... Continue Reading →

In this blog we shine a light on the latest developments in the UK’s Confirmation of Payee (COP) account name checking service. How it all started… It all started with a Which? Super Complaint in 2017 demanding that banks in the UK must do more to protect its customers from Authorised Push Payment (APP) fraud.  This call to action... Continue Reading →

Banks committed to deliver Confirmation of Payee extended capability by end 2021 In response to a recent call for views from the Payment Systems Regulator (PSR), the SD10 firms (a group of the major banks: Lloyds Banking Group, Bank of Scotland, Barclays, HSBC, NatWest, Nationwide and Santander who were initially directed by the regulator to... Continue Reading →

It’s not a silver bullet but… It all stared with a Which? Super Complaint in 2017 demanding that banks in the UK must do more to protect its customers from Authorised Push Payment (APP) fraud. In 2020 the Confirmation of Payee (CoP) service was formally launched in UK to help reduce fraud and misdirected payments.... Continue Reading →

The Payment System Regulators call for views on Phase 2 of the implementation of Confirmation of Payee (CoP) closed at the end of June. The call for views outlined the findings of the PSR's analysis of the impact of Phase 1 of CoP (following Specific Direction 10 which was served on the UK’s six biggest... Continue Reading →

With the Payment Systems Regulator's (PSR) Confirmation of Payee (CoP) closing at the end of June (2021) we are pleased to feature a guest blog from Bob Ford. Bob writes: I have been involved in a number of discussions with @John Bertrand and @Dr Anthony Evans in recent weeks dissecting the questions from the Payments... Continue Reading →

In John Bertrand’s latest article on Confirmation of Payee he notes that banks / PSPs (Payment Service Providers) not offering Confirmation of Payee (CoP) could be aiding and abetting fraudsters. Inspired by Shakespeare, John wonders: To CoP, or not to CoP, that is the questionWhether 'tis nobler in the mind to sufferThe slings and arrows... Continue Reading →

It all stared with a Which? Super Complaint in 2017 demanding that banks in the UK must do more to protect its customers from Authorised Push Payment (APP) fraud. In 2020 the Confirmation of Payee (CoP) service was launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and... Continue Reading →

A guest blog by Bob Ford, Payments Business Analyst and SME. The Pay.UK service of Confirmation of Payee (CoP) has been established for just over a year but the life under lockdown under Covid has not abated the attempts by fraudsters to endeavour to try and scam our accounts of our money. A friend asked... Continue Reading →

The Open Banking Implementation Entity (OBIE) has published a consultation on Confirmation of Payee (CoP) and the Contingent Reimbursement Model (CRM) Code and its implications for open banking payment journeys. The OBIE welcomes stakeholder views on the CoP / CRM Consultation paper via its online Consultation Survey. OBIE have published three papers: CoP/ CRM Consultation paper... Continue Reading →

It all stared with a Which? Super Complaint in 2017 demanding that banks in the UK must do more to protect its customers from Authorised Push Payment (APP) fraud. In 2020 the Confirmation of Payee (CoP) service was launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and... Continue Reading →

In 2020 the Confirmation of Payee (CoP) service was launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and businesses from certain types of fraud and misdirected payments by letting them know if the account name they have entered matches the account name of the recipient. The Confirmation... Continue Reading →

David-Jan Janse, CEO & Co-founder of SurePay speaks during EBAday 2020 about the invention of Confirmation of Payee, how it helps to protect consumers, the function of the algorithm, and where the solution has been useful across the Netherlands and UK.

Confirmation of Payee: Why it’s as important for your bank as it is for you. Catch the latest Payments Podcast from Bottomline where Olivia Armstrong unpacks the latest developments within the Confirmation of Payee name checking service. Does your bank have confirmation of payee in place? Whether it’s a small tick, or a logo, the fact your... Continue Reading →

Modulr is the first non-bank or building society to join the Confirmation of Payee service. Confirmation of Payee allows users to check if the payment details they’ve entered for a person or business match the details held by the recipient’s bank. This provides reassurance that payments are being sent to the right recipient and protects... Continue Reading →

This week The Guardian reported on a bit of Confirmation of Payee payment friction. A reader’s problem was explained as "spelling out the problems as banks' name-checker rejects vital payments". I have been unable to receive a payment I am owed because automated messages repeatedly inform the sender that the payee’s name doesn’t match the... Continue Reading →

Pay.UK have announced that the newly launched Confirmation of Payee service is handling more than one million checks a day. Source: Pay.UK - Confirmation of Payee requests exceed one million per day. Confirmation of Payee is the UK's new bank account name checking service that helps protect consumers and businesses from certain types of fraud... Continue Reading →

Widespread implementation of the UK's new Confirmation of Payee (CoP) service has been announced by the payments regulator. Confirmation of Payee helps protect consumers and businesses from certain types of fraud and misdirected payments by letting them know if the account name they have entered matches the account name of the recipient. The Confirmation of... Continue Reading →

Updated: 24 June 2020 With just a week left until the implementation of the UK's new name checking service should be completed this blog provides all you need to know about Confirmation of Payee. What is Confirmation of Payee? A Confirmation of Payee (CoP) service is being launched in UK to help reduce fraud and... Continue Reading →

In just 18 days the UK’s Confirmation of Payee (CoP) service should have been introduced by the banks who received a Direction from the Payments System Regulator (plus a few other banks that have voluntarily joined the service). Confirmation of Payee is a name checking service that helps protect consumers and businesses from certain types... Continue Reading →

Updated: 9 June 2020 A Confirmation of Payee (CoP) service is being launched in UK to help reduce fraud and misdirected payments. Confirmation of Payee helps protect consumers and businesses from certain types of fraud and misdirected payments by letting them know if the account name they have entered matches the account name of the... Continue Reading →

Confirmation of Payee service launches in UK to help reduce fraud and misdirected payments Confirmation of Payee helps protect consumers and businesses from certain types of fraud and misdirected payments by letting them know if the account name they have entered matches the account name of the recipient. With over two weeks of the initial... Continue Reading →