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EPC publishes updated Verification of Payee matching recommendations
The European Payments Council has issued updated recommendations on matching processes under its Verification of Payee scheme, with guidance on character handling and beneficiary name checks before payment initiation.
HighRisk Media Newsroom, , 1 min read · Читать по-русски
The European Payments Council (EPC) has published an updated set of recommendations for matching processes under its Verification of Payee (VOP) scheme. The document, according to Finextra, supplements earlier guidance.
The new recommendations address character handling and the assessment of the beneficiary name. This check is carried out before the payment is initiated.
The material does not specify when the recommendations take effect or whether they are mandatory for scheme participants.
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