Bank/PSP (Payment Service Provider) not offering Confirmation of Payee (CoP) could be aiding and abetting fraudsters. CoP links the name of the account holder to the Sort Code and account number.

XBP Europe is now officially registered with the European Payments Council as a vendor of Verification of Payee (VOP) services, allowing it to assist organizations with compliance to new instant ...

HSBC has experienced a data breach affecting some of its U.S. banking customers. According to a letter to customers shared by the California Attorney General’s Office, customer accounts were accessed ...

LONDON and SANTA MONICA, Calif., Jan. 16, 2025 (GLOBE NEWSWIRE) -- XBP Europe Holdings, Inc. (“XBP Europe” or “the Company”) (NASDAQ: XBP), a pan-European integrator of bills, payments, and related ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Verification of Payee (VoP) is a pre-payment security measure ...

A payee is a person or business entity receiving a payment. If you're sending an invoice payment, the payee is the vendor, credit card company or government agency to whom you've written the check. If ...

BRUSSELS--(BUSINESS WIRE)--SWIFT today announced the go-live of a service that will enable banks to verify payee account details before an international payment is sent, removing a key point of ...

LONDON and SANTA MONICA, Calif., Jan. 16, 2025 (GLOBE NEWSWIRE) -- XBP Europe Holdings, Inc. (XBP), a pan-European integrator of bills, payments, and related solutions and services seeking to enable ...