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Confirmation of Payee (CoP) adoption is expected to increase as the Payment Systems Regulator (PSR) has mandated that over 300 organizations implement the service by October 31, 2024, expanding its coverage to over 99% of Faster Payments transactions.

From September 2024, Pay.UK will offer the choice of Direct or Indirect participation in CoP.

Bottomline is ready now to support both models. Read more by downloading the Confirmation of Payee Vendor & Aggregator Product Sheet.

Related Resources

Customer Success Story
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UK Power Networks Closes the Door on Fraud with Confirmation of Payee
Payments Verification
Podcast
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Confirmation of Payee: Why It’s Important for Your Bank
Payments Verification
Datasheet
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Confirmation of Payee
Payments Verification

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Payments Verification

Ensure compliance and reduce instances of payments fraud and misdirected payments by implementing real-time bank account, name, and address checks using both domestic and global verification schemes.

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With Bottomline’s Swift GPI via API you can access the Swift GPI community of over 4,232 financial institutions. Every day banks send the equivalent of over $420 billion in value via GPI.