REGULATION · EU
European Payments Council updates Verification of Payee matching rules
The EPC published updated guidance for VOP (Verification Of Payee) schemes, clarifying how banks should match beneficiary names and handle character variations before payment processing. Tightens fraud prevention for cross-border transfers.
WHY IT MATTERS · EDITORIAL ANALYSIS
VOP mismatch handling directly reduces authorized push-payment fraud. Banks must update name-matching logic in payment systems; affects compliance timelines and ops friction.
Source: Finextra · 2026-11-04